Fastenal (NASDAQ:FAST) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lowered its holdings in Fastenal (NASDAQ:FAST - Free Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,780,604 shares of the company's stock after selling 231,631 shares during the quarter. TD Asset Management Inc. owned 0.49% of Fastenal worth $199,953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in Fastenal in the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC purchased a new position in shares of Fastenal during the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new stake in Fastenal in the 4th quarter valued at $49,000. R Squared Ltd purchased a new stake in Fastenal in the 4th quarter worth $68,000. Finally, Eastern Bank raised its position in Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after acquiring an additional 802 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 2.0 %

Shares of Fastenal stock traded down $1.56 during trading hours on Friday, reaching $76.17. 2,689,065 shares of the company were exchanged, compared to its average volume of 3,059,682. The firm has a market cap of $43.68 billion, a PE ratio of 37.90, a PEG ratio of 3.58 and a beta of 1.05. 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 1 year low of $61.36 and a 1 year high of $84.88. The stock's fifty day moving average is $75.35 and its 200 day moving average is $75.94.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is currently 85.57%.

Analysts Set New Price Targets

A number of research firms have recently commented on FAST. Stifel Nicolaus cut their target price on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. HSBC lowered Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Wolfe Research raised their target price on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Hsbc Global Res cut Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $76.91.

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.