Blue Trust Inc. Sells 5,038 Shares of Fastenal (NASDAQ:FAST)

Blue Trust Inc. reduced its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 61.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,155 shares of the company's stock after selling 5,038 shares during the quarter. Blue Trust Inc.'s holdings in Fastenal were worth $227,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in Fastenal in the third quarter valued at about $25,000. Knuff & Co LLC bought a new position in Fastenal in the third quarter valued at about $27,000. First Personal Financial Services bought a new position in Fastenal in the third quarter valued at about $36,000. MCF Advisors LLC boosted its holdings in Fastenal by 54.1% in the third quarter. MCF Advisors LLC now owns 635 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Finally, R Squared Ltd bought a new position in Fastenal in the fourth quarter valued at about $68,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 0.5 %

FAST stock traded down $0.36 during mid-day trading on Friday, reaching $74.78. The company had a trading volume of 3,347,592 shares, compared to its average volume of 2,530,962. 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 50 day simple moving average of $74.22 and a two-hundred day simple moving average of $74.30. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last posted 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 the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts predict 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, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This is an increase from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal's payout ratio is currently 85.57%.

Wall Street Analysts Forecast Growth

FAST has been the topic of several recent research reports. UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price target on the stock. HSBC lowered Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. Hsbc Global Res lowered Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Wolfe Research raised 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, Jefferies Financial Group raised their price target on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.