California Public Employees Retirement System Sells 52,121 Shares of Fastenal (NASDAQ:FAST)

California Public Employees Retirement System trimmed its position in shares of Fastenal (NASDAQ:FAST) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,596,379 shares of the company’s stock after selling 52,121 shares during the period. California Public Employees Retirement System owned 0.45% of Fastenal worth $186,706,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sound Financial Strategies Group LLC bought a new stake in Fastenal during the fourth quarter valued at about $873,000. Matrix Trust Co purchased a new stake in shares of Fastenal during the fourth quarter worth about $1,756,000. Franklin Resources Inc. raised its stake in Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after purchasing an additional 165,423 shares during the period. Czech National Bank lifted its holdings in Fastenal by 6.5% in the 4th quarter. Czech National Bank now owns 124,213 shares of the company’s stock worth $8,932,000 after purchasing an additional 7,559 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its stake in Fastenal by 29.9% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock worth $2,615,000 after purchasing an additional 8,380 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 2.0 %

Shares of FAST stock opened at $76.17 on Monday. The company has a market cap of $43.68 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The stock’s 50 day simple moving average is $75.35 and its two-hundred day simple moving average is $75.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28.

Fastenal (NASDAQ:FAST) last released its 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). 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 was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FAST shares. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research boosted their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. HSBC lowered 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. Jefferies Financial Group boosted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target 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.