Fastenal (NASDAQ:FAST) Shares Sold by TCW Group Inc.

by · The Markets Daily

TCW Group Inc. cut its stake in shares of Fastenal (NASDAQ:FAST – Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,902 shares of the company’s stock after selling 182 shares during the quarter. TCW Group Inc.’s holdings in Fastenal were worth $6,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Fastenal by 9.2% in the second quarter. Sequoia Financial Advisors LLC now owns 8,972 shares of the company’s stock valued at $564,000 after acquiring an additional 755 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Fastenal by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock valued at $13,259,000 after purchasing an additional 11,436 shares in the last quarter. Montecito Bank & Trust increased its position in Fastenal by 69.1% during the 2nd quarter. Montecito Bank & Trust now owns 5,088 shares of the company’s stock worth $320,000 after purchasing an additional 2,080 shares during the period. Swedbank AB raised its stake in shares of Fastenal by 1.8% during the 2nd quarter. Swedbank AB now owns 347,959 shares of the company’s stock worth $21,866,000 after buying an additional 6,251 shares in the last quarter. Finally, Fiduciary Financial Group LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at approximately $261,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’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 transaction of $1,033,669.73. Following the transaction, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This represents a 72.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,289 shares of company stock valued at $12,639,438. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on FAST shares. JPMorgan Chase & Co. upped their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stephens increased their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.40.

View Our Latest Analysis on Fastenal

Fastenal Price Performance

Shares of NASDAQ FAST opened at $79.26 on Thursday. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $78.98 and its 200 day moving average price is $71.08. Fastenal has a 52 week low of $61.33 and a 52 week high of $84.88. The stock has a market cap of $45.41 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 4.79 and a beta of 1.00.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Fastenal Company 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.

See Also

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