Penobscot Investment Management Company Inc. Sells 150 Shares of Fastenal (NASDAQ:FAST)

Penobscot Investment Management Company Inc. cut its stake in Fastenal (NASDAQ:FAST) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,690 shares of the company’s stock after selling 150 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Fastenal were worth $913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FAST. OFI Invest Asset Management bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC acquired a new stake in Fastenal during the fourth quarter worth $49,000. SBI Securities Co. Ltd. bought a new stake in Fastenal in the 4th quarter valued at $49,000. R Squared Ltd acquired a new position in shares of Fastenal in the 4th quarter valued at $68,000. Finally, Eastern Bank lifted its holdings in shares of Fastenal by 440.7% during the 4th quarter. Eastern Bank now owns 984 shares of the company’s stock worth $71,000 after acquiring an additional 802 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $77.09 on Thursday. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $75.29 and a two-hundred day moving average of $75.82. The company has a market cap of $44.21 billion, a PE ratio of 38.35, a P/E/G ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. As a group, equities analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.23%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Analysts Set New Price Targets

FAST has been the topic of a number of analyst reports. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.