Fastenal (NASDAQ:FAST) Stock Holdings Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its position in Fastenal (NASDAQ:FAST) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 68,640 shares of the company’s stock after selling 1,888 shares during the period. Mutual of America Capital Management LLC’s holdings in Fastenal were worth $4,936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. State Street Corp raised its stake in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after buying an additional 608,596 shares during the period. Benjamin Edwards Inc. lifted its stake in Fastenal by 1,789.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after acquiring an additional 507,364 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Fastenal during the 4th quarter worth about $29,443,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report 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. Jefferies Financial Group lifted their target price 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. Wolfe Research boosted their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Down 0.2 %

FAST stock opened at $74.23 on Wednesday. The firm has a market cap of $42.57 billion, a PE ratio of 36.93, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a fifty day simple moving average of $74.07 and a 200 day simple moving average of $74.83. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

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

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.32%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is presently 85.57%.

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.