Fastenal (NASDAQ:FAST) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 37.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,021 shares of the company’s stock after selling 11,796 shares during the quarter. Legato Capital Management LLC’s holdings in Fastenal were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. increased its holdings in Fastenal by 8.5% in the third quarter. Koshinski Asset Management Inc. now owns 5,256 shares of the company’s stock valued at $375,000 after buying an additional 413 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Fastenal by 5.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares during the last quarter. Swedbank AB raised its position in shares of Fastenal by 1.9% during the 3rd quarter. Swedbank AB now owns 354,618 shares of the company’s stock valued at $25,327,000 after acquiring an additional 6,659 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Fastenal by 42.0% during the third quarter. Vontobel Holding Ltd. now owns 31,989 shares of the company’s stock worth $2,285,000 after purchasing an additional 9,462 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Fastenal by 6.1% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 68,873 shares of the company’s stock worth $4,919,000 after purchasing an additional 3,937 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Down 0.9 %

FAST opened at $73.68 on Thursday. The stock’s 50 day moving average price is $75.09 and its 200 day moving average price is $74.04. 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 stock has a market cap of $42.21 billion, a P/E ratio of 36.66, a P/E/G ratio of 3.55 and a beta of 1.02. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

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

Fastenal Increases Dividend

The business 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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is 85.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal 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.