Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,571 shares of the company's stock after selling 44,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Fastenal were worth $12,263,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in FAST. Raymond James Financial Inc. bought a new position in Fastenal during the 4th quarter valued at $101,183,000. State Street Corp lifted its position in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after buying an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fastenal by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company's stock worth $1,493,214,000 after buying an additional 886,999 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fastenal by 5.6% in 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 last quarter. Finally, Donaldson Capital Management LLC bought a new position in shares of Fastenal in the 4th quarter worth about $44,836,000. 81.38% of the stock is currently owned by institutional investors.
Fastenal Price Performance
Fastenal stock traded up $0.75 during trading hours on Monday, hitting $76.01. 975,664 shares of the company traded hands, compared to its average volume of 2,912,953. The firm has a market cap of $43.59 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.58 and a beta of 1.05. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $74.74 and its two-hundred day simple moving average is $75.35. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.
Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share 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 business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $0.46 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.
Fastenal Increases Dividend
The firm also recently disclosed 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 is a positive change from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. Fastenal's dividend payout ratio (DPR) is 85.57%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Wolfe Research raised their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Hsbc Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research 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 price objective 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $76.91.
Check Out Our Latest Analysis on Fastenal
About Fastenal
(
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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