Sigma Planning Corp Reduces Position in Fastenal (NASDAQ:FAST)

Sigma Planning Corp trimmed its position in Fastenal (NASDAQ:FAST) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,231 shares of the company’s stock after selling 2,299 shares during the quarter. Sigma Planning Corp’s holdings in Fastenal were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. Allspring Global Investments Holdings LLC raised its stake in shares of Fastenal by 2.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,689 shares of the company’s stock valued at $2,406,000 after acquiring an additional 907 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Fastenal by 783.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 125,854 shares of the company’s stock valued at $8,988,000 after purchasing an additional 111,615 shares during the last quarter. Allworth Financial LP lifted its holdings in Fastenal by 3.3% in the 3rd quarter. Allworth Financial LP now owns 6,438 shares of the company’s stock worth $460,000 after buying an additional 204 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Fastenal by 111.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,263 shares of the company’s stock worth $519,000 after buying an additional 3,821 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its stake in shares of Fastenal by 10.3% during the third quarter. Integrated Advisors Network LLC now owns 12,238 shares of the company’s stock valued at $874,000 after buying an additional 1,140 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FAST shares. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. 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. Jefferies Financial Group increased their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Down 0.2 %

FAST stock opened at $74.60 on Wednesday. The business has a 50 day moving average of $74.09 and a 200 day moving average of $74.54. The firm has a market cap of $42.78 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results 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). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. Fastenal’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

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.