Picton Mahoney Asset Management Trims Stake in Fastenal (NASDAQ:FAST)

Picton Mahoney Asset Management lessened its holdings in Fastenal (NASDAQ:FAST - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 168,761 shares of the company's stock after selling 9,289 shares during the period. Picton Mahoney Asset Management's holdings in Fastenal were worth $12,135,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Associated Banc Corp increased its stake in Fastenal by 11.2% in the 4th quarter. Associated Banc Corp now owns 4,457 shares of the company's stock worth $321,000 after buying an additional 450 shares in the last quarter. Postrock Partners LLC purchased a new stake in Fastenal in the 4th quarter worth $12,174,000. Madison Investment Advisors LLC purchased a new stake in Fastenal in the 4th quarter worth $16,217,000. Commonwealth Equity Services LLC increased its stake in Fastenal by 0.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 301,423 shares of the company's stock worth $21,675,000 after buying an additional 1,961 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Fastenal in the 4th quarter worth $2,343,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Trading Up 0.0 %

Shares of NASDAQ:FAST traded up $0.02 during trading on Tuesday, reaching $76.09. The company's stock had a trading volume of 2,816,094 shares, compared to its average volume of 2,915,520. 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 12 month low of $61.36 and a 12 month high of $84.88. The firm's 50 day simple moving average is $74.90 and its two-hundred day simple moving average is $75.46. The stock has a market capitalization of $43.63 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

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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 analysts' consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business posted $0.46 EPS. The firm's revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a $0.43 dividend. 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 2.26%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal's dividend payout ratio is 85.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. HSBC downgraded shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. 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 Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on 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.