Naples Global Advisors LLC Has $773,000 Holdings in Fastenal (NASDAQ:FAST)

Naples Global Advisors LLC lessened its holdings in Fastenal (NASDAQ:FAST) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,750 shares of the company’s stock after selling 1,175 shares during the period. Naples Global Advisors LLC’s holdings in Fastenal were worth $773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp increased its position in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after purchasing an additional 136 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after acquiring an additional 142 shares during the period. HB Wealth Management LLC lifted its position in shares of Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after purchasing an additional 142 shares during the last quarter. Compass Ion Advisors LLC lifted its holdings in shares of Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after buying an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its holdings in Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Wolfe Research lifted their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research report on Wednesday, December 11th. UBS Group assumed coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Stifel Nicolaus decreased their price target on 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Trading Up 1.5 %

NASDAQ:FAST opened at $74.79 on Friday. The firm has a market capitalization of $42.85 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 3.55 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The business’s 50-day moving average price is $74.92 and its two-hundred day moving average price is $74.04. 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 (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is currently 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.