Tompkins Financial Corp reduced its position in Fastenal (NASDAQ:FAST) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,334 shares of the company’s stock after selling 457 shares during the quarter. Tompkins Financial Corp’s holdings in Fastenal were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Cubist Systematic Strategies LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at $150,000. Man Group plc lifted its position in Fastenal by 447.8% in the fourth quarter. Man Group plc now owns 79,667 shares of the company’s stock worth $2,944,000 after buying an additional 65,125 shares during the last quarter. Macquarie Group Ltd. increased its position in Fastenal by 17.8% during the fourth quarter. Macquarie Group Ltd. now owns 21,916 shares of the company’s stock valued at $810,000 after acquiring an additional 3,316 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Fastenal by 230.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,325 shares of the company’s stock valued at $2,525,000 after acquiring an additional 47,650 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Fastenal by 106.1% in the 4th quarter. Franklin Resources Inc. now owns 709,262 shares of the company’s stock worth $26,208,000 after acquiring an additional 365,133 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

FAST has been the subject of several analyst reports. ValuEngine downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upgraded Fastenal from an “underweight” rating to a “neutral” rating and set a $34.00 target price on the stock in a research note on Tuesday, June 23rd. Jefferies Financial Group restated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Wednesday, July 15th. Morgan Stanley lifted their price objective on shares of Fastenal from $36.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Finally, Deutsche Bank upped their target price on shares of Fastenal from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.90.

Shares of Fastenal stock opened at $47.04 on Friday. The firm’s 50 day simple moving average is $43.24 and its two-hundred day simple moving average is $37.90. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 3.63 and a beta of 1.20. Fastenal has a 12-month low of $26.72 and a 12-month high of $47.07. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.20.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 1.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, July 27th. Fastenal’s payout ratio is 72.46%.

In related news, VP Leland J. Hein sold 12,320 shares of Fastenal stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $45.83, for a total transaction of $564,625.60. Following the completion of the transaction, the vice president now directly owns 15,372 shares in the company, valued at $704,498.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Joseph Drazkowski sold 28,554 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $45.59, for a total value of $1,301,776.86. Following the completion of the transaction, the insider now directly owns 9,330 shares of the company’s stock, valued at $425,354.70. The disclosure for this sale can be found here. Insiders have sold 156,826 shares of company stock valued at $6,594,303 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Fastenal Profile

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

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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