Fastenal (NASDAQ:FAST) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Fastenal (NASDAQ:FAST) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,191 shares of the company’s stock after selling 3,891 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Fastenal were worth $4,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at $310,000. Comgest Global Investors S.A.S. lifted its holdings in shares of Fastenal by 73.0% during the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after purchasing an additional 36,742 shares during the period. PNC Financial Services Group Inc. boosted its position in Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock valued at $26,373,000 after buying an additional 6,488 shares during the last quarter. Matrix Trust Co acquired a new position in Fastenal in the 4th quarter worth approximately $1,756,000. Finally, Franklin Resources Inc. raised its position in Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Shares of FAST stock opened at $73.24 on Monday. The stock has a market cap of $41.96 billion, a PE ratio of 36.44, a P/E/G ratio of 3.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The stock has a fifty day moving average price of $76.43 and a 200 day moving average price of $73.76.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $0.46 earnings per share. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Insider Buying and Selling at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,772 shares of company stock worth $5,365,455 in the last quarter. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FAST shares. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.