RK Asset Management LLC Has $4.46 Million Holdings in Fastenal (NASDAQ:FAST)

RK Asset Management LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,977 shares of the company’s stock after selling 9,066 shares during the period. Fastenal accounts for 3.6% of RK Asset Management LLC’s holdings, making the stock its 17th largest position. RK Asset Management LLC’s holdings in Fastenal were worth $4,457,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FAST. State Street Corp lifted its position in shares of Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares in the last quarter. Geode Capital Management LLC lifted its position in Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after purchasing an additional 880,372 shares during the period. Legal & General Group Plc grew its stake in Fastenal by 3.4% during the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock worth $371,334,000 after buying an additional 193,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock valued at $336,974,000 after buying an additional 226,126 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FAST shares. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group boosted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus target price of $77.40.

Insider Buying and Selling

In related 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 value of $1,970,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the sale, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at $388,264.24. This trade represents a 72.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,289 shares of company stock valued at $12,639,438 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Fastenal Trading Up 0.8 %

NASDAQ FAST traded up $0.58 on Friday, reaching $71.69. The company had a trading volume of 2,470,691 shares, compared to its average volume of 2,297,045. The business has a 50 day moving average of $79.23 and a two-hundred day moving average of $72.24. Fastenal has a fifty-two week low of $61.33 and a fifty-two week high of $84.88. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 35.67, a P/E/G ratio of 4.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, October 25th. Fastenal’s dividend payout ratio is 77.61%.

Fastenal 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.