Glenview Trust co Sells 1,021 Shares of Fastenal (NASDAQ:FAST)

Glenview Trust co lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,279 shares of the company’s stock after selling 1,021 shares during the period. Glenview Trust co’s holdings in Fastenal were worth $2,896,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FAST. Assetmark Inc. lifted its holdings in shares of Fastenal by 20.4% in the third quarter. Assetmark Inc. now owns 4,307 shares of the company’s stock worth $308,000 after acquiring an additional 731 shares during the last quarter. CIBC Asset Management Inc increased its position in Fastenal by 5.2% during the 3rd quarter. CIBC Asset Management Inc now owns 194,438 shares of the company’s stock worth $13,887,000 after purchasing an additional 9,668 shares in the last quarter. Natixis Advisors LLC lifted its stake in Fastenal by 21.7% in the 3rd quarter. Natixis Advisors LLC now owns 205,720 shares of the company’s stock valued at $14,693,000 after purchasing an additional 36,673 shares during the last quarter. KPP Advisory Services LLC boosted its position in Fastenal by 5.1% in the third quarter. KPP Advisory Services LLC now owns 7,348 shares of the company’s stock valued at $525,000 after buying an additional 355 shares in the last quarter. Finally, Accredited Investors Inc. grew its stake in shares of Fastenal by 24.1% during the third quarter. Accredited Investors Inc. now owns 18,434 shares of the company’s stock worth $1,317,000 after buying an additional 3,577 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FAST has been the subject of a number of research reports. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Jefferies Financial Group increased their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wolfe Research boosted their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. HSBC downgraded 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. Finally, Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Up 2.1 %

Shares of NASDAQ:FAST opened at $75.26 on Monday. 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 52-week low of $61.36 and a 52-week high of $84.88. The business’s 50 day simple moving average is $74.74 and its two-hundred day simple moving average is $75.35. The firm has a market cap of $43.16 billion, a P/E ratio of 37.44, a PEG ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued 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 the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, research analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.29%. Fastenal’s payout ratio is presently 85.57%.

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.