Fastenal (NASDAQ:FAST) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,225,142 shares of the company’s stock after selling 20,992 shares during the quarter. Rhumbline Advisers owned about 0.21% of Fastenal worth $88,100,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FAST. Ashton Thomas Securities LLC purchased a new position in shares of Fastenal in the 3rd quarter worth $25,000. Knuff & Co LLC purchased a new position in shares of Fastenal in the 3rd quarter worth $27,000. First Personal Financial Services purchased a new position in shares of Fastenal in the 3rd quarter worth $36,000. MCF Advisors LLC raised its position in shares of Fastenal by 54.1% in the 3rd 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 purchased a new position in shares of Fastenal in the 4th quarter worth $68,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.0 %

NASDAQ:FAST opened at $74.78 on Friday. 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 has a one year low of $61.36 and a one year high of $84.88. The business’s 50-day simple moving average is $74.65 and its 200 day simple moving average is $74.07. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 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 analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is currently 85.57%.

Analysts Set New Price Targets

FAST has been the topic of several research reports. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. HSBC cut 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. Finally, UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.