E. Ohman J or Asset Management AB Sells 1,600 Shares of Fastenal (NASDAQ:FAST)

E. Ohman J or Asset Management AB lowered its position in Fastenal (NASDAQ:FAST) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the company’s stock after selling 1,600 shares during the period. E. Ohman J or Asset Management AB’s holdings in Fastenal were worth $1,607,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after acquiring an additional 143 shares during the period. Compass Ion Advisors LLC grew its holdings in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in shares of Fastenal by 1.1% in the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after acquiring an additional 150 shares during the period. Sara Bay Financial grew its holdings in shares of Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after acquiring an additional 155 shares during the period. Finally, Trueblood Wealth Management LLC grew its holdings in shares of Fastenal by 1.4% in the second quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock worth $711,000 after acquiring an additional 156 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Joseph Drazkowski sold 16,362 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now owns 5,997 shares in the company, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,373 shares of company stock worth $13,029,308. Corporate insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $75.85 on Friday. The stock’s 50-day simple moving average is $70.74 and its 200-day simple moving average is $68.04. Fastenal has a 52 week low of $57.01 and a 52 week high of $79.04. The company has a market capitalization of $43.43 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 4.13 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04.

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

Fastenal Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal 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.