Fastenal (NASDAQ:FAST) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its stake in shares of Fastenal (NASDAQ:FAST) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,530 shares of the company’s stock after selling 305 shares during the period. TIAA Trust National Association’s holdings in Fastenal were worth $1,117,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Fastenal during the fourth quarter worth about $46,000. Whipplewood Advisors LLC purchased a new stake in shares of Fastenal in the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $49,000. R Squared Ltd purchased a new stake in shares of Fastenal during the 4th quarter valued at approximately $68,000. Finally, Eastern Bank lifted its holdings in Fastenal by 440.7% in the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after acquiring an additional 802 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Up 0.8 %

FAST stock opened at $77.73 on Friday. The company’s 50 day moving average price is $75.35 and its 200 day moving average price is $75.83. The firm has a market capitalization of $44.57 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. 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 (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.21%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s payout ratio is 85.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Wolfe Research raised their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group upped their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. 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 research report on Wednesday, December 11th. Finally, William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.