FineMark National Bank & Trust Sells 1,500 Shares of Fastenal (NASDAQ:FAST)

FineMark National Bank & Trust lessened its position in shares of Fastenal (NASDAQ:FAST) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,555 shares of the company’s stock after selling 1,500 shares during the quarter. FineMark National Bank & Trust’s holdings in Fastenal were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Modern Wealth Management LLC bought a new stake in Fastenal in the 4th quarter valued at about $200,000. CoreFirst Bank & Trust purchased a new position in shares of Fastenal in the fourth quarter worth about $101,000. United Services Automobile Association raised its position in shares of Fastenal by 4.0% in the fourth quarter. United Services Automobile Association now owns 13,631 shares of the company’s stock valued at $980,000 after purchasing an additional 518 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Fastenal during the 4th quarter valued at approximately $308,000. Finally, Vanguard Group Inc. boosted its holdings in Fastenal by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 72,300,792 shares of the company’s stock worth $5,199,150,000 after buying an additional 592,583 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FAST shares. Stifel Nicolaus lowered their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC downgraded 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. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Up 0.2 %

FAST stock opened at $77.09 on Wednesday. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $75.23 and its 200 day moving average is $75.81.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share 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 company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $0.46 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is presently 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.