Fastenal (NASDAQ:FAST) Shares Sold by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 3.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,227 shares of the company’s stock after selling 275 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Fastenal were worth $520,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Comgest Global Investors S.A.S. grew its stake 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 worth $6,219,000 after buying an additional 36,742 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Fastenal by 1.8% during the 3rd 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 during the last quarter. Matrix Trust Co purchased a new position in Fastenal during the 4th quarter worth approximately $1,756,000. Franklin Resources Inc. grew its stake in Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares during the last quarter. Finally, Czech National Bank grew its stake in Fastenal by 6.5% during the 4th quarter. Czech National Bank now owns 124,213 shares of the company’s stock worth $8,932,000 after buying an additional 7,559 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.5 %

Shares of NASDAQ FAST opened at $74.78 on Monday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The firm has a 50-day moving average price of $74.22 and a 200 day moving average price of $74.43. The stock has a market capitalization of $42.88 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is presently 85.57%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FAST shares. Stifel Nicolaus dropped their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group lifted 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. Two 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.91.

About Fastenal

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.