Teacher Retirement System of Texas Sells 119,091 Shares of Fastenal (NASDAQ:FAST)

Teacher Retirement System of Texas lessened its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 45.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 141,864 shares of the company's stock after selling 119,091 shares during the period. Teacher Retirement System of Texas' holdings in Fastenal were worth $10,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. State Street Corp increased its position in Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company's stock valued at $1,493,214,000 after purchasing an additional 886,999 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after purchasing an additional 880,372 shares in the last quarter. Cantillon Capital Management LLC raised its position in Fastenal by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 4,931,928 shares of the company's stock worth $354,655,000 after purchasing an additional 26,254 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company's stock worth $336,974,000 after purchasing an additional 226,126 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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Fastenal Price Performance

Shares of Fastenal stock remained flat at $77.09 during trading hours on Wednesday. The company's stock had a trading volume of 2,763,481 shares, compared to its average volume of 2,923,273. The company has a market capitalization of $44.21 billion, a P/E ratio of 38.35, a PEG 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 stock has a 50 day simple moving average of $75.23 and a 200 day simple moving average of $75.81. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

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

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a dividend of $0.43 per share. This is a boost from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.23%. Fastenal's dividend payout ratio is presently 85.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FAST shares. Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Stifel Nicolaus cut their target price 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. Jefferies Financial Group lifted their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Hsbc Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Finally, William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note 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 issued a buy rating to the company's stock. According to data from MarketBeat, the company presently 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.