Fastenal Company (FAST) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC decreased its stake in Fastenal Company (NASDAQ:FAST) by 71.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,513 shares of the company’s stock after selling 44,864 shares during the period. Brown Capital Management LLC’s holdings in Fastenal Company were worth $823,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in Fastenal Company by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,471,644 shares of the company’s stock valued at $312,165,000 after buying an additional 122,079 shares during the last quarter. Polen Capital Management LLC raised its stake in Fastenal Company by 11.9% in the second quarter. Polen Capital Management LLC now owns 7,163,432 shares of the company’s stock valued at $317,985,000 after buying an additional 764,398 shares during the last quarter. BlackRock Fund Advisors raised its stake in Fastenal Company by 4.2% in the third quarter. BlackRock Fund Advisors now owns 4,920,453 shares of the company’s stock valued at $205,577,000 after buying an additional 198,533 shares during the last quarter. Route One Investment Company L.P. raised its stake in Fastenal Company by 9.3% in the second quarter. Route One Investment Company L.P. now owns 3,838,962 shares of the company’s stock valued at $170,412,000 after buying an additional 327,655 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in Fastenal Company by 8.1% in the third quarter. Bahl & Gaynor Inc. now owns 3,078,505 shares of the company’s stock valued at $128,619,000 after buying an additional 231,798 shares during the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.

Institutional Ownership by Quarter for Fastenal Company (NASDAQ:FAST)

Fastenal Company (NASDAQ:FAST) traded up 0.18% on Friday, reaching $50.34. The company’s stock had a trading volume of 1,148,434 shares. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 29.12 and a beta of 1.02. The company has a 50 day moving average of $48.90 and a 200 day moving average of $44.37. Fastenal Company has a 52 week low of $37.70 and a 52 week high of $51.56.

Fastenal Company (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, January 18th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business earned $947.95 million during the quarter, compared to analyst estimates of $951.83 million. Fastenal Company had a return on equity of 26.52% and a net margin of 12.61%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. On average, analysts forecast that Fastenal Company will post $1.84 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Wednesday, February 1st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, January 30th. This is a boost from Fastenal Company’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 2.54%. Fastenal Company’s dividend payout ratio is currently 73.99%.

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Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Fastenal Company from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, January 19th. Zacks Investment Research lowered Fastenal Company from a “hold” rating to a “sell” rating in a research note on Monday, December 5th. Credit Suisse Group raised their price objective on Fastenal Company from $41.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, January 19th. BMO Capital Markets reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Fastenal Company in a research note on Monday, November 7th. Finally, William Blair raised Fastenal Company from a “market perform” rating to an “outperform” rating in a research note on Monday, December 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Fastenal Company presently has a consensus rating of “Hold” and an average target price of $48.87.

In related news, EVP Leland J. Hein sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $47.40, for a total value of $94,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Reyne K. Wisecup sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $48.98, for a total value of $2,449,000.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at $2,938,800. The disclosure for this sale can be found here. Insiders sold 53,000 shares of company stock worth $2,589,950 over the last quarter. 0.78% of the stock is currently owned by insiders.

About Fastenal Company

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.

5 Day Chart for NASDAQ:FAST

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST).

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