Pine Valley Investments Ltd Liability Co Has $443,000 Stock Holdings in Fastenal (NASDAQ:FAST)

Pine Valley Investments Ltd Liability Co trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,166 shares of the company’s stock after selling 246 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Fastenal were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. BankPlus Trust Department bought a new stake in Fastenal in the fourth quarter valued at $1,933,000. Crestwood Advisors Group LLC increased its position in Fastenal by 8.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 6,608 shares of the company’s stock valued at $475,000 after buying an additional 540 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Fastenal in the 4th quarter valued at about $5,995,000. Union Bancaire Privee UBP SA acquired a new position in Fastenal during the 4th quarter worth approximately $832,000. Finally, Howard Capital Management Inc. boosted its holdings in Fastenal by 3.0% in the fourth quarter. Howard Capital Management Inc. now owns 16,551 shares of the company’s stock worth $1,190,000 after acquiring an additional 489 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Down 1.0 %

Shares of FAST stock opened at $73.89 on Thursday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company’s fifty day simple moving average is $74.07 and its two-hundred day simple moving average is $74.54. 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 stock has a market capitalization of $42.37 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent research reports. Wolfe Research boosted their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC downgraded 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. Finally, UBS Group assumed coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock 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.