Fastenal (NASDAQ:FAST) Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE lessened its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,507 shares of the company's stock after selling 303,305 shares during the period. Flossbach Von Storch SE's holdings in Fastenal were worth $16,863,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FAST. State Street Corp raised its stake in Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after buying an additional 1,346,863 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after acquiring an additional 880,372 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock valued at $1,419,690,000 after buying an additional 608,596 shares during the last quarter. Benjamin Edwards Inc. raised its position in Fastenal by 1,789.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company's stock worth $38,262,000 after buying an additional 507,364 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Fastenal by 59.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company's stock valued at $66,305,000 after acquiring an additional 345,537 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HSBC cut shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price for the company. in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 target price on the stock. Wolfe Research lifted their price target on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Fastenal currently has an average rating of "Hold" and an average target price of $76.91.

Fastenal Price Performance

Shares of FAST stock traded down $0.36 during trading hours on Friday, hitting $74.78. 3,347,592 shares of the company's stock were exchanged, compared to its average volume of 3,008,088. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The firm has a market cap of $42.88 billion, a P/E ratio of 37.20, a P/E/G ratio of 3.60 and a beta of 1.02. 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 firm has a 50 day moving average of $74.29 and a two-hundred day moving average of $74.24.

Fastenal (NASDAQ:FAST - Get Free Report) last released 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). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business earned $0.46 EPS. The business's revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is 85.57%.

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.