Sei Investments Co. Sells 102,910 Shares of Fastenal (NASDAQ:FAST)

Sei Investments Co. trimmed its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,746 shares of the company's stock after selling 102,910 shares during the period. Sei Investments Co. owned about 0.06% of Fastenal worth $25,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Fastenal by 7.0% during the third quarter. Larson Financial Group LLC now owns 4,407 shares of the company's stock valued at $315,000 after buying an additional 288 shares during the period. Fisher Asset Management LLC bought a new stake in Fastenal during the 3rd quarter valued at approximately $310,000. Independent Advisor Alliance grew its holdings in shares of Fastenal by 1.8% during the 3rd quarter. Independent Advisor Alliance now owns 18,822 shares of the company's stock worth $1,344,000 after acquiring an additional 338 shares during the period. DRW Securities LLC bought a new position in shares of Fastenal in the 3rd quarter worth approximately $356,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Fastenal by 63.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 106,667 shares of the company's stock valued at $7,618,000 after purchasing an additional 41,367 shares during the period. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on FAST shares. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Hsbc Global Res lowered shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Wolfe Research boosted their price objective 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 cut shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $76.91.

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Fastenal Stock Performance

Shares of NASDAQ:FAST traded down $1.56 during midday trading on Friday, reaching $76.17. 2,689,065 shares of the company's stock traded hands, compared to its average volume of 3,059,682. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a market cap of $43.68 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 3.58 and a beta of 1.05. The stock has a 50 day moving average of $75.35 and a 200 day moving average of $75.98.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 EPS. Fastenal's revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. 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. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is 85.57%.

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.