Schwartz Investment Counsel Inc. Has $40.05 Million Holdings in Fastenal (NASDAQ:FAST)

Schwartz Investment Counsel Inc. trimmed its holdings in Fastenal (NASDAQ:FAST - Free Report) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 557,000 shares of the company's stock after selling 25,000 shares during the quarter. Fastenal comprises 1.4% of Schwartz Investment Counsel Inc.'s portfolio, making the stock its 25th biggest holding. Schwartz Investment Counsel Inc. owned about 0.10% of Fastenal worth $40,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAST. State Street Corp raised its holdings in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock worth $1,188,251,000 after buying an additional 880,372 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock worth $1,419,690,000 after buying an additional 608,596 shares during the period. Benjamin Edwards Inc. grew its position in shares of Fastenal by 1,789.1% during 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 during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Fastenal by 59.3% during 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 during the period. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FAST shares. HSBC lowered 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. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 target price for the company. Hsbc Global Res lowered Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and a consensus target price of $76.91.

Fastenal Stock Down 0.0 %

NASDAQ:FAST traded down $0.01 during trading hours on Friday, reaching $74.78. 2,549,000 shares of the stock were exchanged, compared to its average volume of 3,333,444. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. 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 firm has a 50 day moving average of $74.65 and a 200 day moving average of $74.07. The stock has a market cap of $42.84 billion, a PE ratio of 37.20, a PEG ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $0.46 EPS. The company's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio is presently 85.57%.

About Fastenal

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.