Brinker Capital Inc. Sells 48,936 Shares of Fastenal (FAST)

Brinker Capital Inc. decreased its position in shares of Fastenal (NASDAQ:FAST) by 52.4% in the 1st quarter, HoldingsChannel reports. The fund owned 44,506 shares of the company’s stock after selling 48,936 shares during the period. Brinker Capital Inc.’s holdings in Fastenal were worth $2,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in Fastenal during the first quarter worth $26,000. Eukles Asset Management bought a new stake in Fastenal during the first quarter worth $289,000. Strategic Financial Services Inc grew its holdings in Fastenal by 91.5% during the first quarter. Strategic Financial Services Inc now owns 92,173 shares of the company’s stock worth $5,928,000 after buying an additional 44,049 shares in the last quarter. Lantz Financial LLC bought a new stake in Fastenal during the first quarter worth $1,303,000. Finally, Strs Ohio grew its holdings in Fastenal by 15.4% during the first quarter. Strs Ohio now owns 37,787 shares of the company’s stock worth $2,430,000 after buying an additional 5,033 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

In other news, CAO Sheryl Ann Lisowski sold 10,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $62.50, for a total transaction of $625,000.00. Following the transaction, the chief accounting officer now owns 10,300 shares of the company’s stock, valued at approximately $643,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel L. Florness sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $70.75, for a total value of $1,415,000.00. Following the transaction, the chief executive officer now directly owns 109,845 shares in the company, valued at approximately $7,771,533.75. The disclosure for this sale can be found here. Insiders sold a total of 162,012 shares of company stock valued at $10,747,216 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Shares of NASDAQ:FAST opened at $71.35 on Thursday. The firm has a market capitalization of $20.36 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.17. The company has a quick ratio of 1.97, a current ratio of 4.31 and a debt-to-equity ratio of 0.20. Fastenal has a 1 year low of $47.37 and a 1 year high of $71.88.

Fastenal’s stock is scheduled to split on Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, May 21st.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same quarter in the prior year, the company earned $0.61 EPS. On average, equities analysts forecast that Fastenal will post 2.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.41%. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.

A number of brokerages have issued reports on FAST. Buckingham Research upped their price objective on Fastenal from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, Jefferies Financial Group began coverage on Fastenal in a research note on Monday, January 7th. They issued a “hold” rating and a $60.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.70.

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Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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