Webster Bank N. A. Decreases Holdings in Fastenal (NASDAQ:FAST)

Webster Bank N. A. lessened its stake in shares of Fastenal (NASDAQ:FAST) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 104,548 shares of the company’s stock after selling 2,521 shares during the period. Fastenal makes up approximately 0.8% of Webster Bank N. A.’s holdings, making the stock its 28th largest holding. Webster Bank N. A.’s holdings in Fastenal were worth $7,518,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FAST. KBC Group NV lifted its holdings in shares of Fastenal by 11.6% in the 4th quarter. KBC Group NV now owns 98,825 shares of the company’s stock worth $7,107,000 after buying an additional 10,239 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Fastenal during the 4th quarter valued at about $832,000. Blue Trust Inc. raised its position in shares of Fastenal by 32.2% in the 4th quarter. Blue Trust Inc. now owns 10,834 shares of the company’s stock valued at $774,000 after purchasing an additional 2,641 shares during the last quarter. Drive Wealth Management LLC increased its stake in Fastenal by 26.7% during the 4th quarter. Drive Wealth Management LLC now owns 6,153 shares of the company’s stock valued at $442,000 after purchasing an additional 1,296 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its holdings in shares of Fastenal by 1.4% in the fourth quarter. Archford Capital Strategies LLC now owns 25,100 shares of the company’s stock worth $1,805,000 after buying an additional 345 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Up 0.1 %

Fastenal stock opened at $75.53 on Monday. 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 $43.27 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. The business has a 50 day simple moving average of $77.18 and a 200-day simple moving average of $73.45. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1,842,560.16 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is presently 77.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. Wolfe Research boosted their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.91.

Insider Activity

In other news, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel L. Johnson sold 8,474 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,660 shares of company stock worth $6,211,126 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

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.