Private Trust Co. NA Has $188,000 Position in Fastenal (NASDAQ:FAST)

Private Trust Co. NA cut its stake in shares of Fastenal (NASDAQ:FAST) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,609 shares of the company’s stock after selling 202 shares during the quarter. Private Trust Co. NA’s holdings in Fastenal were worth $188,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Comgest Global Investors S.A.S. lifted its holdings in Fastenal by 73.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after purchasing an additional 36,742 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Fastenal by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after buying an additional 6,488 shares in the last quarter. Matrix Trust Co bought a new position in shares of Fastenal in the fourth quarter valued at approximately $1,756,000. Franklin Resources Inc. boosted its holdings in shares of 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 acquiring an additional 165,423 shares in the last quarter. Finally, Czech National Bank boosted its holdings in shares of 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 acquiring an additional 7,559 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FAST. Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group raised their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. UBS Group began coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Trading Down 1.8 %

FAST opened at $74.38 on Tuesday. The firm has a 50 day simple moving average of $74.09 and a 200 day simple moving average of $74.78. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The company has a market cap of $42.65 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. 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 issued its earnings results on Friday, January 17th. The company reported $0.46 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 for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fastenal will post 2.15 earnings per share for the current 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. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.31%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

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.