Mediolanum International Funds Ltd Sells 108,385 Shares of Fastenal (NASDAQ:FAST)

Mediolanum International Funds Ltd lowered its holdings in Fastenal (NASDAQ:FAST) by 53.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 92,779 shares of the company’s stock after selling 108,385 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Fastenal were worth $6,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC bought a new stake in Fastenal during the 1st quarter worth approximately $226,000. Brookstone Capital Management bought a new stake in Fastenal during the 1st quarter worth approximately $316,000. Wealthcare Advisory Partners LLC increased its holdings in Fastenal by 137.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,476 shares of the company’s stock worth $731,000 after acquiring an additional 5,482 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Fastenal by 17.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 199,562 shares of the company’s stock worth $15,394,000 after acquiring an additional 29,190 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in Fastenal by 35.0% during the 1st quarter. Kathmere Capital Management LLC now owns 7,606 shares of the company’s stock worth $587,000 after acquiring an additional 1,972 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley increased their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Jefferies Financial Group decreased their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Stephens increased their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Price Performance

Shares of Fastenal stock opened at $75.85 on Friday. Fastenal has a 52-week low of $57.01 and a 52-week high of $79.04. The stock has a market capitalization of $43.43 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The company has a fifty day moving average of $70.74 and a 200-day moving average of $68.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.06%. Fastenal’s payout ratio is currently 77.61%.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at $388,264.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders sold 179,373 shares of company stock valued at $13,029,308 in the last quarter. Company insiders own 0.41% of the company’s stock.

Fastenal Company Profile

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.