Fastenal (NASDAQ:FAST) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Fastenal (NASDAQ:FAST - Free Report) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,564,545 shares of the company's stock after selling 142,429 shares during the quarter. Bank of Montreal Can owned approximately 0.45% of Fastenal worth $184,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC raised its position in shares of Fastenal by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 73,609 shares of the company's stock worth $5,257,000 after buying an additional 234 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Fastenal by 3.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,735 shares of the company's stock valued at $410,000 after purchasing an additional 210 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Fastenal by 12.4% in the third quarter. IHT Wealth Management LLC now owns 4,989 shares of the company's stock valued at $356,000 after buying an additional 549 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Fastenal by 91.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 11,975 shares of the company's stock valued at $855,000 after buying an additional 5,732 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Fastenal in the third quarter worth $208,000. Institutional investors and hedge funds own 81.38% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FAST shares. Stifel Nicolaus decreased their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $76.91.

Fastenal Stock Performance

NASDAQ:FAST traded up $4.85 during trading hours on Friday, reaching $80.64. 7,561,437 shares of the stock were exchanged, compared to its average volume of 3,091,608. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $46.24 billion, a P/E ratio of 40.12, a P/E/G ratio of 3.58 and a beta of 1.05. The firm has a 50 day simple moving average of $75.56 and a 200-day simple moving average of $76.37.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, April 11th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side 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 will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.76 dividend on an annualized basis and a yield of 2.18%. This is a boost from Fastenal's previous quarterly dividend of $0.43. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

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.