US Bancorp DE Sells 12,262 Shares of Fastenal (NASDAQ:FAST)

US Bancorp DE decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 449,555 shares of the company’s stock after selling 12,262 shares during the period. US Bancorp DE owned 0.08% of Fastenal worth $32,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its holdings in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after buying an additional 880,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fastenal by 5.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after buying an additional 226,126 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after buying an additional 165,423 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 2.2 %

Fastenal stock opened at $75.73 on Monday. The stock has a market cap of $43.43 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. 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 stock has a fifty day moving average of $74.09 and a 200 day moving average of $74.72.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

Several brokerages recently weighed in on FAST. Wolfe Research raised their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, UBS Group started coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.91.

Fastenal Company 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.