Fastenal (NASDAQ:FAST) Position Lessened by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its stake in shares of Fastenal (NASDAQ:FAST) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,072 shares of the company’s stock after selling 1,628 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Fastenal were worth $3,313,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the third quarter valued at $25,000. Knuff & Co LLC acquired a new position in Fastenal during the 3rd quarter valued at about $27,000. First Personal Financial Services bought a new stake in shares of Fastenal during the 3rd quarter worth about $36,000. MCF Advisors LLC lifted its stake in shares of Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the period. Finally, R Squared Ltd bought a new position in shares of Fastenal in the fourth quarter valued at approximately $68,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

FAST stock opened at $74.33 on Wednesday. Fastenal has a one year low of $61.36 and a one year high of $84.88. The firm has a 50-day moving average of $75.26 and a two-hundred day moving average of $74.02. The firm has a market capitalization of $42.58 billion, a PE ratio of 36.98, a P/E/G ratio of 3.55 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast 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 will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is presently 85.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus dropped their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Wolfe Research lifted their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.