UMB Bank n.a. Sells 18,664 Shares of Fastenal (NASDAQ:FAST)

UMB Bank n.a. reduced its position in shares of Fastenal (NASDAQ:FASTFree Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,268,829 shares of the company’s stock after selling 18,664 shares during the quarter. Fastenal comprises 1.2% of UMB Bank n.a.’s holdings, making the stock its 20th biggest position. UMB Bank n.a.’s holdings in Fastenal were worth $82,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Fastenal by 0.3% during the 1st quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock worth $2,435,637,000 after purchasing an additional 138,257 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after purchasing an additional 423,112 shares during the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 0.9% during the 1st quarter. Geode Capital Management LLC now owns 13,676,410 shares of the company’s stock worth $736,259,000 after purchasing an additional 117,040 shares during the last quarter. Morgan Stanley raised its holdings in Fastenal by 37.8% during the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after purchasing an additional 2,492,722 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Fastenal by 0.6% during the 1st quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after purchasing an additional 41,898 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $76.35 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.27 and a current ratio of 4.57. The stock has a 50 day simple moving average of $72.89 and a 200 day simple moving average of $64.87. Fastenal has a 52-week low of $50.30 and a 52-week high of $79.04. The firm has a market capitalization of $43.69 billion, a PE ratio of 37.80, a P/E/G ratio of 3.94 and a beta of 1.05.

Fastenal (NASDAQ:FASTGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from Fastenal’s previous quarterly dividend of $0.38. Fastenal’s dividend payout ratio is currently 77.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FAST shares. Robert W. Baird boosted their target price on Fastenal from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Stifel Nicolaus boosted their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $64.50.

Check Out Our Latest Report on FAST

Insider Activity at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at $414,392.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles S. Miller sold 23,590 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,682 shares of company stock worth $7,375,853. Company insiders own 0.41% of the company’s stock.

About Fastenal

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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