New York Life Investment Management LLC Sells 7,866 Shares of Fastenal (NASDAQ:FAST)

New York Life Investment Management LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,756 shares of the company’s stock after selling 7,866 shares during the quarter. New York Life Investment Management LLC’s holdings in Fastenal were worth $5,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Fastenal during the 3rd quarter valued at $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the third quarter worth $27,000. First Personal Financial Services bought a new position in shares of Fastenal in the third quarter worth $36,000. Whipplewood Advisors LLC bought a new position in shares of Fastenal in the fourth quarter worth $49,000. Finally, R Squared Ltd bought a new position in shares of Fastenal in the fourth quarter worth $68,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 2.2 %

Shares of NASDAQ:FAST opened at $75.73 on Friday. The stock’s 50-day moving average price is $74.09 and its 200-day moving average price is $74.61. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The stock has a market capitalization of $43.43 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 3.58 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 announced its quarterly earnings data 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. 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 on the stock. Finally, Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.