TCV Trust & Wealth Management Inc. Has $13.05 Million Stock Holdings in Fastenal (NASDAQ:FAST)

TCV Trust & Wealth Management Inc. trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 181,485 shares of the company’s stock after selling 1,925 shares during the period. Fastenal makes up about 1.2% of TCV Trust & Wealth Management Inc.’s investment portfolio, making the stock its 29th biggest position. TCV Trust & Wealth Management Inc.’s holdings in Fastenal were worth $13,051,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Fastenal during the third quarter valued at $25,000. Knuff & Co LLC bought a new position in Fastenal during the 3rd quarter valued at about $27,000. First Personal Financial Services acquired a new position in Fastenal in the third quarter valued at about $36,000. MCF Advisors LLC boosted its position in Fastenal by 54.1% in the third quarter. MCF Advisors LLC now owns 635 shares of the company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Fastenal during the fourth quarter worth about $68,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Fastenal stock opened at $74.33 on Wednesday. The company has a market cap of $42.58 billion, a PE ratio of 36.98, a PEG ratio of 3.55 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 has a 1 year low of $61.36 and a 1 year high of $84.88. The company’s 50-day moving average is $75.26 and its two-hundred day moving average is $74.02.

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

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. Fastenal’s payout ratio is 85.57%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FAST shares. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. 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. Finally, Stifel Nicolaus decreased their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.