Commerce Bank Sells 3,988 Shares of Fastenal (NASDAQ:FAST)

20 Apr 2025, 06:48 by Doug Wharley · The Cerbat Gem

Commerce Bank trimmed its holdings in shares of Fastenal (NASDAQ:FAST – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,297 shares of the company’s stock after selling 3,988 shares during the period. Commerce Bank’s holdings in Fastenal were worth $5,343,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Norges Bank acquired a new position in Fastenal in the fourth quarter valued at about $522,558,000. Raymond James Financial Inc. acquired a new stake in shares of Fastenal in the 4th quarter valued at approximately $101,183,000. Wellington Management Group LLP boosted its stake in Fastenal by 301.9% during the 4th quarter. Wellington Management Group LLP now owns 1,478,233 shares of the company’s stock worth $106,300,000 after acquiring an additional 1,110,445 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after purchasing an additional 886,999 shares during the period. Finally, Donaldson Capital Management LLC bought a new stake in Fastenal in the fourth quarter valued at approximately $44,836,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 1.3 %

NASDAQ FAST opened at $81.54 on Friday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $76.29 and a 200-day moving average of $76.68. The company has a market cap of $46.76 billion, a PE ratio of 40.56, a PEG ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Fastenal’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, April 25th. Fastenal’s dividend payout ratio (DPR) is presently 87.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FAST shares. Stephens boosted their price target on shares of Fastenal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, April 15th. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Robert W. Baird boosted their price objective on Fastenal from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $79.10.

View Our Latest Analysis on FAST

Insider Transactions at Fastenal

In other news, EVP William Joseph Drazkowski sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the completion of the sale, the executive vice president now owns 5,997 shares in the company, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Profile

(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.