Kentucky Retirement Systems Insurance Trust Fund Has $695,000 Holdings in Fastenal (NASDAQ:FAST)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,668 shares of the company's stock after selling 7,287 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Fastenal were worth $695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Geode Capital Management LLC lifted its position 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 acquiring an additional 880,372 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock valued at $1,419,690,000 after acquiring an additional 608,596 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Fastenal by 1,789.1% in 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 in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Fastenal by 59.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company's stock worth $66,305,000 after buying an additional 345,537 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Down 0.8 %

Shares of FAST traded down $0.63 during mid-day trading on Friday, hitting $74.51. 1,508,601 shares of the company's stock were exchanged, compared to its average volume of 2,947,843. The firm has a fifty day moving average of $74.29 and a two-hundred day moving average of $74.24. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The stock has a market cap of $42.73 billion, a price-to-earnings ratio of 37.05, 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.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.84 billion. During the same quarter last year, the company earned $0.46 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.31%. Fastenal's dividend payout ratio (DPR) is presently 85.57%.

Analyst Ratings Changes

FAST has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 target price for the company. Hsbc Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Stifel Nicolaus cut their target price 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. 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. Finally, Jefferies Financial Group increased their target price 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.