Natixis Advisors LLC lowered its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,889 shares of the company's stock after selling 6,831 shares during the quarter. Natixis Advisors LLC's holdings in Fastenal were worth $14,302,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of FAST. Meeder Advisory Services Inc. raised its holdings in shares of Fastenal by 3.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 13,145 shares of the company's stock worth $939,000 after purchasing an additional 487 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Fastenal by 11.1% in the 3rd quarter. Pathstone Holdings LLC now owns 110,131 shares of the company's stock worth $7,866,000 after purchasing an additional 10,997 shares during the period. Prospera Financial Services Inc raised its holdings in shares of Fastenal by 9.6% in the 3rd quarter. Prospera Financial Services Inc now owns 3,584 shares of the company's stock worth $256,000 after purchasing an additional 314 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $9,132,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Fastenal by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company's stock worth $26,373,000 after purchasing an additional 6,488 shares during the period. Institutional investors own 81.38% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on FAST shares. Stifel Nicolaus lowered their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Wolfe Research boosted their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Finally, HSBC cut shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $76.91.
Get Our Latest Stock Analysis on FAST
Fastenal Price Performance
Shares of FAST traded down $0.78 during mid-day trading on Friday, reaching $74.73. 8,781,375 shares of the stock traded hands, compared to its average volume of 2,926,265. The firm has a fifty day moving average price of $75.08 and a 200 day moving average price of $75.57. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88.
Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, equities research analysts predict that Fastenal will post 2.15 earnings per share for the current year.
Fastenal Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.30%. Fastenal's payout ratio is 85.57%.
Fastenal Profile
(
Free Report)
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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