Fastenal (NASDAQ:FAST) Shares Sold by Hills Bank & Trust Co

Hills Bank & Trust Co cut its holdings in shares of Fastenal (NASDAQ:FAST) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,974 shares of the company’s stock after selling 1,429 shares during the quarter. Fastenal comprises 1.0% of Hills Bank & Trust Co’s investment portfolio, making the stock its 24th biggest position. Hills Bank & Trust Co’s holdings in Fastenal were worth $13,661,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Assetmark Inc. increased its stake in Fastenal by 20.4% during the third quarter. Assetmark Inc. now owns 4,307 shares of the company’s stock worth $308,000 after acquiring an additional 731 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the third quarter worth about $25,000. Harbour Investments Inc. boosted its holdings in Fastenal by 9.7% in the third quarter. Harbour Investments Inc. now owns 13,980 shares of the company’s stock valued at $998,000 after purchasing an additional 1,231 shares in the last quarter. Curi RMB Capital LLC boosted its stake in Fastenal by 3.0% in the third quarter. Curi RMB Capital LLC now owns 34,375 shares of the company’s stock valued at $2,455,000 after acquiring an additional 990 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Fastenal by 5.6% during the 3rd quarter. Metis Global Partners LLC now owns 29,243 shares of the company’s stock worth $2,089,000 after buying an additional 1,543 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FAST. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Stifel Nicolaus dropped their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

Fastenal stock opened at $75.26 on Friday. The firm has a market capitalization of $43.16 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock’s 50 day moving average price is $74.74 and its 200 day moving average price is $75.24. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last issued 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 during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. As a group, sell-side analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

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.