Natixis Advisors LLC Cuts Stock Holdings in Fastenal Company $FAST

Natixis Advisors LLC trimmed its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,366 shares of the company's stock after selling 136,047 shares during the quarter. Natixis Advisors LLC's holdings in Fastenal were worth $16,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC lifted its holdings in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after purchasing an additional 147 shares in the last quarter. Founders Capital Management LLC grew its position in shares of Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company's stock valued at $418,000 after purchasing an additional 228 shares during the period. L2 Asset Management LLC grew its position in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock valued at $264,000 after purchasing an additional 248 shares during the period. Redmond Asset Management LLC grew its position in shares of Fastenal by 0.3% in the fourth quarter. Redmond Asset Management LLC now owns 100,206 shares of the company's stock valued at $4,021,000 after purchasing an additional 258 shares during the period. Finally, KLCM Advisors Inc. grew its position in shares of Fastenal by 0.8% in the third quarter. KLCM Advisors Inc. now owns 33,800 shares of the company's stock valued at $1,658,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Price Performance

Fastenal stock opened at $46.79 on Friday. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The firm has a market capitalization of $53.72 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 2.98 and a beta of 0.73. The company has a fifty day simple moving average of $45.08 and a 200-day simple moving average of $44.00. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, equities analysts anticipate that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal's payout ratio is presently 84.21%.

Analyst Ratings Changes

Several analysts have recently issued reports on FAST shares. Sanford C. Bernstein reiterated an "underperform" rating and issued a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Barclays set a $46.00 target price on shares of Fastenal and gave the stock an "equal weight" rating in a report on Wednesday. Morgan Stanley reaffirmed a "positive" rating and set a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fastenal in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fastenal currently has a consensus rating of "Hold" and a consensus price target of $49.85.

About Fastenal

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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