Yousif Capital Management LLC Trims Holdings in Fastenal (NASDAQ:FAST)

Yousif Capital Management LLC trimmed its position in Fastenal (NASDAQ:FAST) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,819 shares of the company’s stock after selling 3,236 shares during the quarter. Yousif Capital Management LLC’s holdings in Fastenal were worth $5,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. Envestnet Asset Management Inc. increased its holdings in Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after acquiring an additional 1,505,936 shares in the last quarter. Invesco Ltd. grew its holdings in Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after buying an additional 957,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Fastenal by 80.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock valued at $87,435,000 after buying an additional 711,265 shares in the last quarter. Royal Bank of Canada grew its holdings in Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after buying an additional 568,372 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after buying an additional 423,112 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders sold a total of 36,082 shares of company stock worth $2,584,060 over the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Robert W. Baird cut their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HSBC raised their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital cut their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Trading Up 0.6 %

FAST stock opened at $68.14 on Friday. The firm has a market cap of $39.01 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.55 and a beta of 1.05. The firm has a fifty day moving average price of $73.45 and a 200 day moving average price of $66.65. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. Fastenal’s dividend payout ratio is presently 77.23%.

Fastenal 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.