Fastenal (NASDAQ:FAST) Shares Sold by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC lessened its position in Fastenal (NASDAQ:FAST - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,840 shares of the company's stock after selling 4,525 shares during the period. Fastenal comprises 2.3% of Jacobson & Schmitt Advisors LLC's portfolio, making the stock its 24th largest holding. Jacobson & Schmitt Advisors LLC's holdings in Fastenal were worth $11,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FAST. State Street Corp boosted its position in shares of Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock worth $1,419,690,000 after purchasing an additional 608,596 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company's stock valued at $336,974,000 after buying an additional 226,126 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after buying an additional 165,423 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Stock Down 0.5 %

Fastenal stock traded down $0.40 during midday trading on Friday, hitting $74.74. 1,717,943 shares of the stock were exchanged, compared to its average volume of 2,955,135. 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 company has a 50 day moving average price of $74.29 and a two-hundred day moving average price of $74.24. The firm has a market cap of $42.86 billion, a P/E ratio of 37.19, a P/E/G ratio of 3.60 and a beta of 1.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. This is an increase from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal's dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research analyst reports. Wolfe Research lifted their target price on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. HSBC downgraded shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.