Gulf International Bank UK Ltd Sells 466 Shares of Fastenal (NASDAQ:FAST)

Gulf International Bank UK Ltd lessened its position in Fastenal (NASDAQ:FAST) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,730 shares of the company’s stock after selling 466 shares during the period. Gulf International Bank UK Ltd’s holdings in Fastenal were worth $3,216,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FAST. King Luther Capital Management Corp increased its position in shares of Fastenal by 1.6% in the 3rd 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 in the last quarter. Verdence Capital Advisors LLC grew its stake in Fastenal by 1.9% in the third 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 during the period. HB Wealth Management LLC increased its holdings in shares of Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after acquiring an additional 142 shares in the last quarter. Catalina Capital Group LLC raised its position 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, Checchi Capital Advisers LLC lifted its holdings in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after purchasing an additional 164 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.3 %

Shares of NASDAQ:FAST opened at $74.09 on Friday. The stock has a market cap of $42.48 billion, a PE ratio of 36.86, a P/E/G 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. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The business has a 50 day moving average of $74.08 and a 200-day moving average of $74.54.

Fastenal (NASDAQ:FAST) last announced 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). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.46 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.32%. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

FAST has been the subject of several research reports. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research upped their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fastenal has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal 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.