California Public Employees Retirement System lessened its position in shares of Fastenal (NASDAQ:FAST) by 3.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 543,898 shares of the company’s stock after selling 18,673 shares during the quarter. California Public Employees Retirement System’s holdings in Fastenal were worth $34,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Teachers Advisors LLC boosted its holdings in Fastenal by 1.7% in the 3rd quarter. Teachers Advisors LLC now owns 876,040 shares of the company’s stock valued at $50,828,000 after purchasing an additional 15,056 shares during the period. Legal & General Group Plc boosted its holdings in Fastenal by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 1,444,214 shares of the company’s stock valued at $83,786,000 after purchasing an additional 11,185 shares during the period. Vanguard Group Inc boosted its holdings in Fastenal by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after purchasing an additional 311,099 shares during the period. Contravisory Investment Management Inc. boosted its holdings in Fastenal by 6.7% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,560 shares of the company’s stock valued at $291,000 after purchasing an additional 347 shares during the period. Finally, DNB Asset Management AS boosted its holdings in Fastenal by 14.9% in the 4th quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after purchasing an additional 7,012 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.

In related news, insider John Lewis Soderberg sold 30,000 shares of Fastenal stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $70.62, for a total transaction of $2,118,600.00. Following the completion of the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $2,118,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leland J. Hein sold 22,500 shares of Fastenal stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the transaction, the insider now directly owns 30,111 shares of the company’s stock, valued at $1,900,907.43. The disclosure for this sale can be found here. Insiders have sold a total of 184,304 shares of company stock valued at $12,789,291 over the last ninety days. 0.62% of the stock is owned by insiders.

FAST has been the subject of a number of research reports. Raymond James set a $78.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Friday, April 12th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Wednesday, January 23rd. BidaskClub raised shares of Fastenal from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 24th. Morgan Stanley raised their price objective on shares of Fastenal from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Finally, Argus reaffirmed a “positive” rating on shares of Fastenal in a report on Friday, January 18th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Fastenal currently has an average rating of “Hold” and an average target price of $61.70.

NASDAQ:FAST opened at $64.16 on Thursday. The stock has a market cap of $18.26 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.20. Fastenal has a 52 week low of $47.37 and a 52 week high of $71.88. 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’s stock is going to split on the morning of Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, May 21st.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. During the same period last year, the firm earned $0.61 EPS. On average, equities research analysts expect that Fastenal will post 2.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s payout ratio is 65.40%.

TRADEMARK VIOLATION WARNING: This report was first posted by Marea Informative and is the property of of Marea Informative. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.mareainformativa.com/news/2019/05/16/fastenal-fast-shares-sold-by-california-public-employees-retirement-system.html.

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.

Read More: Cost of Capital Explained

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.