Union Bancaire Privee UBP SA Cuts Position in Fastenal Company $FAST

Union Bancaire Privee UBP SA decreased its stake in Fastenal Company (NASDAQ:FAST) by 92.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,600 shares of the company’s stock after selling 431,727 shares during the period. Union Bancaire Privee UBP SA’s holdings in Fastenal were worth $1,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the 4th quarter worth approximately $25,000. Palladiem LLC acquired a new position in Fastenal during the fourth quarter worth $25,000. MV Capital Management Inc. purchased a new stake in Fastenal during the fourth quarter worth $29,000. Field & Main Bank purchased a new stake in Fastenal during the fourth quarter worth $30,000. Finally, Tucker Asset Management LLC acquired a new stake in Fastenal in the fourth quarter valued at $33,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on FAST. JPMorgan Chase & Co. lifted their price target on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Raymond James Financial set a $48.00 target price on shares of Fastenal in a report on Thursday, March 5th. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Barclays set a $46.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Finally, DA Davidson initiated coverage on shares of Fastenal in a research note on Tuesday, June 16th. They set a “neutral” rating and a $46.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus target price of $49.57.

Fastenal Trading Up 0.4%

Shares of FAST opened at $47.10 on Friday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The firm has a market capitalization of $54.07 billion, a P/E ratio of 41.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $45.06 and its 200 day simple moving average is $44.62.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio is 84.21%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.