Fastenal (NASDAQ:FAST) Stock Holdings Lowered by Intelligent Financial Strategies

Intelligent Financial Strategies trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,261 shares of the company’s stock after selling 312 shares during the period. Intelligent Financial Strategies’ holdings in Fastenal were worth $91,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FAST. Principal Securities Inc. increased its stake in Fastenal by 6.0% in the 4th quarter. Principal Securities Inc. now owns 15,746 shares of the company’s stock worth $1,132,000 after purchasing an additional 896 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Fastenal by 4.2% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,430 shares of the company’s stock worth $462,000 after acquiring an additional 259 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Fastenal by 16.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 10,342 shares of the company’s stock valued at $744,000 after acquiring an additional 1,463 shares during the period. Pictet North America Advisors SA lifted its position in shares of Fastenal by 2.4% in the 4th quarter. Pictet North America Advisors SA now owns 77,419 shares of the company’s stock valued at $5,567,000 after acquiring an additional 1,829 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Fastenal by 0.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 244,264 shares of the company’s stock worth $17,835,000 after purchasing an additional 2,238 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST opened at $74.78 on Monday. 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 fifty day moving average price of $74.65 and a 200 day moving average price of $74.10. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market cap of $42.84 billion, a P/E ratio of 37.20, a PEG ratio of 3.55 and a beta of 1.02.

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). 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%. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. Analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is 85.57%.

Analyst Ratings Changes

FAST has been the topic of several recent analyst reports. 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. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a report 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. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price 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.