Fastenal (NASDAQ:FAST) Shares Sold by National Pension Service

National Pension Service lowered its stake in shares of Fastenal (NASDAQ:FAST) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 671,197 shares of the company’s stock after selling 49,559 shares during the period. National Pension Service owned 0.12% of Fastenal worth $48,266,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FAST. State Street Corp boosted its stake in Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after buying an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after buying an additional 608,596 shares during the last quarter. Geode Capital Management LLC boosted its stake in Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after buying an additional 880,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after buying an additional 226,126 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $74.09 on Friday. 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 52-week low of $61.36 and a 52-week high of $84.88. The stock’s 50 day moving average is $74.08 and its two-hundred day moving average is $74.54. The company has a market capitalization of $42.48 billion, a PE ratio of 36.86, a P/E/G ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is 85.57%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stifel Nicolaus decreased 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 raised their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, Wolfe Research lifted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.