Fastenal (NASDAQ:FAST) Position Cut by Dearborn Partners LLC

Dearborn Partners LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,274 shares of the company’s stock after selling 7,934 shares during the quarter. Dearborn Partners LLC owned about 0.08% of Fastenal worth $33,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. King Luther Capital Management Corp increased its position in Fastenal by 1.6% in 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 position in Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the last quarter. HB Wealth Management LLC increased its position in Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after purchasing an additional 142 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Fastenal by 2.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock worth $504,000 after purchasing an additional 164 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock worth $147,000 after purchasing an additional 166 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

FAST opened at $79.80 on Tuesday. The firm has a market capitalization of $45.76 billion, a P/E ratio of 39.70, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock’s 50 day moving average price is $74.43 and its two-hundred day moving average price is $75.13. 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.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on 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 Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.