Fastenal (NASDAQ:FAST) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA cut its stake in Fastenal (NASDAQ:FAST) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 572,624 shares of the company’s stock after selling 7,385 shares during the period. Fastenal makes up 2.7% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 14th largest position. Nichols & Pratt Advisers LLP MA owned about 0.10% of Fastenal worth $41,177,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Fastenal during the third quarter valued at approximately $25,000. Knuff & Co LLC acquired a new position in Fastenal during the third quarter valued at approximately $27,000. First Personal Financial Services acquired a new position in Fastenal during the third quarter valued at approximately $36,000. Whipplewood Advisors LLC purchased a new stake in shares of Fastenal during the fourth quarter valued at approximately $49,000. Finally, R Squared Ltd purchased a new stake in shares of Fastenal during the fourth quarter valued at approximately $68,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of FAST opened at $75.73 on Friday. The firm has a 50-day moving average price of $74.09 and a 200 day moving average price of $74.61. The firm has a market capitalization of $43.43 billion, a PE ratio of 37.68, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.27%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FAST. Jefferies Financial Group lifted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus dropped their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Finally, Wolfe Research lifted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Two equities research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.91.

About Fastenal

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.