National Bank of Canada FI Sells 12,076 Shares of Fastenal (NASDAQ:FAST)

National Bank of Canada FI cut its holdings in Fastenal (NASDAQ:FAST) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,236 shares of the company’s stock after selling 12,076 shares during the quarter. National Bank of Canada FI owned 0.07% of Fastenal worth $27,992,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. HB Wealth Management LLC boosted its position in shares of 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 buying an additional 142 shares during the last quarter. Cozad Asset Management Inc. lifted its stake in Fastenal by 5.5% during the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock valued at $215,000 after acquiring an additional 155 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after acquiring an additional 164 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Fastenal by 8.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock worth $147,000 after acquiring an additional 166 shares during the period. Finally, Resonant Capital Advisors LLC raised its holdings in shares of Fastenal by 1.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock valued at $1,026,000 after purchasing an additional 177 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Performance

FAST opened at $78.01 on Thursday. The company has a 50 day simple moving average of $75.46 and a two-hundred day simple moving average of $76.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm has a market cap of $44.73 billion, a P/E ratio of 38.81, a PEG ratio of 3.58 and a beta of 1.04. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

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

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FAST shares. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.91.

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.