Fastenal (NASDAQ:FAST) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its stake in shares of Fastenal (NASDAQ:FAST) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 29,687 shares of the company’s stock after selling 690 shares during the period. Wealthspire Advisors LLC’s holdings in Fastenal were worth $2,135,000 at the end of the most recent quarter.

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

Fastenal Stock Performance

FAST opened at $74.78 on Tuesday. The stock has a market capitalization of $42.88 billion, a PE ratio of 37.20, a P/E/G ratio of 3.58 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The business’s 50 day moving average price is $74.15 and its 200 day moving average price is $74.49.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 business 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. As a group, equities research analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analyst Ratings Changes

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