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

Picton Mahoney Asset Management lowered its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,761 shares of the company's stock after selling 9,289 shares during the quarter. Picton Mahoney Asset Management's holdings in Fastenal were worth $12,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Associated Banc Corp grew its position in Fastenal by 11.2% during the fourth quarter. Associated Banc Corp now owns 4,457 shares of the company's stock valued at $321,000 after buying an additional 450 shares during the period. Postrock Partners LLC purchased a new stake in shares of Fastenal in the 4th quarter worth $12,174,000. Madison Investment Advisors LLC bought a new position in Fastenal in the 4th quarter worth $16,217,000. Commonwealth Equity Services LLC raised its holdings 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 purchasing an additional 1,961 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Fastenal during the fourth quarter valued at $2,343,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Trading Down 0.2 %

NASDAQ:FAST traded down $0.16 during mid-day trading on Tuesday, hitting $75.91. 788,615 shares of the stock traded hands, compared to its average volume of 2,909,871. 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 has a 52 week low of $61.36 and a 52 week high of $84.88. The stock has a market capitalization of $43.53 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 3.58 and a beta of 1.05. The firm's 50 day moving average is $74.82 and its two-hundred day moving average is $75.41.

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Fastenal (NASDAQ:FAST - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $0.46 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. This is an increase from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal's dividend payout ratio (DPR) is 85.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FAST. Hsbc Global Res downgraded Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. HSBC lowered shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Jefferies Financial Group raised their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $76.91.

Fastenal Company 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.