Fastenal (NASDAQ:FAST) Position Trimmed by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,131 shares of the company’s stock after selling 6,665 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Fastenal were worth $12,234,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock worth $1,493,214,000 after acquiring an additional 886,999 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after acquiring an additional 880,372 shares during the last quarter. Cantillon Capital Management LLC grew its position in shares of Fastenal by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 4,931,928 shares of the company’s stock worth $354,655,000 after acquiring an additional 26,254 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Fastenal by 5.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after acquiring an additional 226,126 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $79.98 on Friday. 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 has a one year low of $61.36 and a one year high of $84.88. The firm has a market capitalization of $45.86 billion, a PE ratio of 39.79, a P/E/G ratio of 3.58 and a beta of 1.02. The firm has a 50-day moving average of $74.27 and a two-hundred day moving average of $74.94.

Fastenal (NASDAQ:FAST) last posted 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). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, 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. Investors of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.15%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Wolfe Research increased their target price on shares of 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 increased their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.