Fastenal (NASDAQ:FAST) Stake Cut by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,837,589 shares of the company's stock after selling 240,392 shares during the period. Hsbc Holdings PLC owned about 0.50% of Fastenal worth $204,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Anchor Investment Management LLC increased its position in Fastenal by 3.4% in the fourth quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock worth $297,000 after buying an additional 135 shares during the period. HB Wealth Management LLC lifted its position in Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company's stock valued at $840,000 after purchasing an additional 142 shares during the last quarter. MML Investors Services LLC boosted its stake in Fastenal by 0.5% during the 4th quarter. MML Investors Services LLC now owns 28,573 shares of the company's stock valued at $2,055,000 after purchasing an additional 152 shares during the period. Cozad Asset Management Inc. grew its position in Fastenal by 5.5% in the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company's stock worth $215,000 after purchasing an additional 155 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Fastenal by 0.7% in the fourth quarter. Neuberger Berman Group LLC now owns 21,857 shares of the company's stock valued at $1,572,000 after purchasing an additional 159 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Up 1.4 %

Shares of NASDAQ FAST opened at $81.44 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a market cap of $46.72 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 3.58 and a beta of 1.05. The business has a fifty day simple moving average of $76.55 and a 200-day simple moving average of $76.82.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a $0.44 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date is Friday, April 25th. This represents a $1.76 dividend on an annualized basis and a yield of 2.16%. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wolfe Research raised Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Robert W. Baird increased their price objective on shares of Fastenal from $80.00 to $86.00 and gave the company a "neutral" rating in a report on Monday, April 14th. Stephens boosted their target price on Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 15th. Finally, William Blair raised Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Fastenal presently has an average rating of "Hold" and an average target price of $79.10.

Insiders Place Their Bets

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the completion of the sale, the executive vice president now directly owns 5,997 shares in the company, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company's stock.

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.

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