Fastenal (NASDAQ:FAST) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in shares of Fastenal (NASDAQ:FAST) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,495 shares of the company’s stock after selling 6,424 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Fastenal were worth $21,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FAST. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the third quarter worth $25,000. Knuff & Co LLC acquired a new stake in Fastenal in the third quarter worth $27,000. First Personal Financial Services acquired a new stake in Fastenal in the third quarter worth $36,000. MCF Advisors LLC increased its position in Fastenal by 54.1% in the third quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after buying an additional 223 shares during the period. Finally, R Squared Ltd acquired a new stake in Fastenal in the fourth quarter worth $68,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Down 0.0 %

Shares of NASDAQ FAST opened at $74.78 on Friday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a market cap of $42.84 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 3.55 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $74.65 and a 200-day simple moving average of $74.07.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data 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 return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group assumed coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Jefferies Financial Group increased their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.