Sabal Trust CO Sells 9,930 Shares of Fastenal (NASDAQ:FAST)

Sabal Trust CO decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 303,706 shares of the company’s stock after selling 9,930 shares during the period. Sabal Trust CO owned 0.05% of Fastenal worth $21,839,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FAST. Allspring Global Investments Holdings LLC boosted its position in Fastenal by 2.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,689 shares of the company’s stock valued at $2,406,000 after purchasing an additional 907 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Fastenal by 783.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 125,854 shares of the company’s stock worth $8,988,000 after buying an additional 111,615 shares during the last quarter. Allworth Financial LP raised its stake in shares of Fastenal by 3.3% during the 3rd quarter. Allworth Financial LP now owns 6,438 shares of the company’s stock worth $460,000 after acquiring an additional 204 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Fastenal by 111.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,263 shares of the company’s stock valued at $519,000 after acquiring an additional 3,821 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Fastenal by 10.3% during the third quarter. Integrated Advisors Network LLC now owns 12,238 shares of the company’s stock worth $874,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.2 %

Shares of FAST stock opened at $74.60 on Wednesday. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 3.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The stock has a 50 day simple moving average of $74.09 and a 200-day simple moving average of $74.54.

Fastenal (NASDAQ:FAST) last issued 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research report on Wednesday, December 11th. Wolfe Research raised 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. Stifel Nicolaus cut their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $76.91.

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.