Fastenal (NASDAQ:FAST) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC reduced its position in shares of Fastenal (NASDAQ:FAST) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,021 shares of the company’s stock after selling 11,796 shares during the period. Legato Capital Management LLC’s holdings in Fastenal were worth $1,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal in the 3rd quarter worth approximately $310,000. Comgest Global Investors S.A.S. boosted its holdings in Fastenal by 73.0% during the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after buying an additional 36,742 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Fastenal by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after buying an additional 6,488 shares in the last quarter. Matrix Trust Co acquired a new position in Fastenal in the fourth quarter worth approximately $1,756,000. Finally, Franklin Resources Inc. increased its holdings in shares of Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after buying an additional 165,423 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 0.9 %

Shares of FAST stock opened at $73.68 on Thursday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The firm has a market cap of $42.21 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. The stock has a 50 day moving average of $75.09 and a 200-day moving average of $74.04.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. On average, equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FAST shares. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, UBS Group started coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $76.91.

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.