Fastenal (NASDAQ:FAST) Shares Sold by Canton Hathaway LLC

Canton Hathaway LLC lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,575 shares of the company’s stock after selling 200 shares during the period. Canton Hathaway LLC’s holdings in Fastenal were worth $1,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. King Luther Capital Management Corp lifted its holdings in shares of Fastenal by 1.6% in the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after buying an additional 136 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after acquiring an additional 142 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after purchasing an additional 142 shares during the period. Catalina Capital Group LLC boosted its holdings in shares of Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after purchasing an additional 146 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock worth $147,000 after buying an additional 166 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FAST. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Performance

Shares of FAST stock opened at $74.78 on Tuesday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a market cap of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. 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 business’s 50 day moving average is $74.15 and its two-hundred day moving average is $74.49.

Fastenal (NASDAQ:FAST) last posted its 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 firm 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%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. Fastenal’s 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.