IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stock Holdings in Fastenal (NASDAQ:FAST)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in shares of Fastenal (NASDAQ:FAST) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,962 shares of the company’s stock after selling 1,911 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Fastenal were worth $4,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NEOS Investment Management LLC raised its stake in shares of Fastenal by 52.4% during the fourth quarter. NEOS Investment Management LLC now owns 155,958 shares of the company’s stock worth $11,215,000 after purchasing an additional 53,622 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in Fastenal by 5.2% in the 4th quarter. UniSuper Management Pty Ltd now owns 154,146 shares of the company’s stock valued at $11,085,000 after buying an additional 7,662 shares during the period. Sava Infond d.o.o. acquired a new position in Fastenal in the 4th quarter valued at $266,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Fastenal by 4.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,011,037 shares of the company’s stock worth $72,481,000 after buying an additional 47,641 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in shares of Fastenal by 67.4% in the fourth quarter. Korea Investment CORP now owns 364,474 shares of the company’s stock valued at $26,209,000 after acquiring an additional 146,760 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Price Performance

Fastenal stock opened at $77.09 on Thursday. The firm has a market capitalization of $44.21 billion, a PE ratio of 38.35, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The firm’s 50-day simple moving average is $75.29 and its 200 day simple moving average is $75.82. 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 (NASDAQ:FAST) last announced its quarterly earnings results 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 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 analysts’ expectations of $1.84 billion. During the same period last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 85.57%.

Analysts Set New Price Targets

Several research firms recently issued reports on FAST. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a report on Wednesday, December 11th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. 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. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Finally, Wolfe Research boosted their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.91.

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.