Fastenal (NASDAQ:FAST) Shares Sold by Bfsg LLC

Bfsg LLC reduced its stake in shares of Fastenal (NASDAQ:FAST) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,108 shares of the company’s stock after selling 1,305 shares during the period. Bfsg LLC’s holdings in Fastenal were worth $3,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FAST. King Luther Capital Management Corp lifted its position in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after purchasing an additional 136 shares during the period. Verdence Capital Advisors LLC lifted its position in Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the period. HB Wealth Management LLC lifted its position in Fastenal by 1.2% during the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after purchasing an additional 142 shares during the period. Catalina Capital Group LLC lifted its position in Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Fastenal by 1.8% during the third quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock valued at $653,000 after purchasing an additional 165 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FAST. Stifel Nicolaus cut their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Wolfe Research lifted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Performance

Shares of FAST stock opened at $74.78 on Tuesday. The firm’s 50 day moving average price is $74.65 and its 200-day moving average price is $74.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a one year low of $61.36 and a one year high of $84.88. The firm has a market cap of $42.84 billion, a P/E ratio of 37.20, a P/E/G ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

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.