Fastenal (NASDAQ:FAST) Shares Sold by Howard Bailey Securities LLC

Howard Bailey Securities LLC reduced its position in shares of Fastenal (NASDAQ:FAST) by 8.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,389 shares of the company’s stock after selling 467 shares during the quarter. Howard Bailey Securities LLC’s holdings in Fastenal were worth $388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the third quarter valued at $27,000. First Personal Financial Services bought a new position in shares of Fastenal in the third quarter valued at $36,000. MCF Advisors LLC grew its holdings in shares of Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Fastenal during the fourth quarter worth $68,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Down 0.9 %

FAST opened at $73.68 on Thursday. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.55 and a beta of 1.02. The firm’s 50-day simple moving average is $75.09 and its 200-day simple moving average is $74.04. 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 released its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

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.