Hsbc Holdings PLC reduced its position in Fastenal (NASDAQ:FAST - Free Report) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,837,589 shares of the company's stock after selling 240,392 shares during the quarter. Hsbc Holdings PLC owned about 0.50% of Fastenal worth $204,133,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IHT Wealth Management LLC increased its holdings in Fastenal by 5.5% in the 4th quarter. IHT Wealth Management LLC now owns 5,265 shares of the company's stock valued at $379,000 after purchasing an additional 276 shares in the last quarter. Beacon Investment Advisors LLC boosted its holdings in Fastenal by 4.2% in the 4th quarter. Beacon Investment Advisors LLC now owns 15,666 shares of the company's stock worth $1,127,000 after acquiring an additional 637 shares during the period. State of Tennessee Department of Treasury lifted its position in shares of Fastenal by 75.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 131,288 shares of the company's stock worth $9,441,000 after purchasing an additional 56,253 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Fastenal by 21.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,579 shares of the company's stock valued at $689,000 after purchasing an additional 1,690 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Fastenal by 149.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 46,147 shares of the company's stock valued at $3,318,000 after purchasing an additional 27,616 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Stock Down 1.7 %
Shares of FAST stock traded down $1.37 on Monday, reaching $79.36. 1,134,900 shares of the company's stock traded hands, compared to its average volume of 3,087,033. 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 has a 12-month low of $61.36 and a 12-month high of $84.88. The business's 50 day moving average price is $76.93 and its two-hundred day moving average price is $77.09. The company has a market capitalization of $45.52 billion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.
Fastenal's stock is going to split on Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, May 21st.
Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, equities analysts forecast 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, May 23rd. Shareholders of record on Friday, April 25th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.22%. This is an increase from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date is Friday, April 25th. Fastenal's payout ratio is currently 87.56%.
Insider Transactions at Fastenal
In related news, EVP William Joseph Drazkowski sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the transaction, the executive vice president now directly owns 5,997 shares of the company's stock, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research analysts recently commented on the company. Stifel Nicolaus cut 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. William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Robert W. Baird lifted their price target on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, April 14th. Finally, Stephens raised their target price on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $79.10.
Get Our Latest Report on FAST
Fastenal Profile
(
Free Report)
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.
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