Fastenal (NASDAQ:FAST) Stock Position Lessened by Wealth Alliance

Wealth Alliance lowered its position in shares of Fastenal (NASDAQ:FAST) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,318 shares of the company’s stock after selling 646 shares during the quarter. Wealth Alliance’s holdings in Fastenal were worth $382,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Fastenal during the third quarter valued at about $25,000. Knuff & Co LLC bought a new position in Fastenal during the third quarter valued at about $27,000. First Personal Financial Services bought a new position in Fastenal during the third quarter valued at about $36,000. MCF Advisors LLC boosted its stake in Fastenal by 54.1% during 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 position in Fastenal during the fourth quarter valued at about $68,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.5 %

FAST opened at $74.78 on Friday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The business has a 50-day moving average of $74.29 and a 200-day moving average of $74.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The company has a market capitalization of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAST. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Wolfe Research increased 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. Finally, HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.