Jacobson & Schmitt Advisors LLC Lowers Stock Position in Fastenal (NASDAQ:FAST)

Jacobson & Schmitt Advisors LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 163,840 shares of the company’s stock after selling 4,525 shares during the quarter. Fastenal makes up 2.3% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 24th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Fastenal were worth $11,782,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FAST shares. HSBC cut shares of 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. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group raised their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Wolfe Research raised their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, UBS Group started coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given 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 Up 1.0 %

NASDAQ:FAST opened at $75.57 on Thursday. The firm has a market capitalization of $43.33 billion, a P/E ratio of 37.60, a PEG ratio of 3.57 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company’s fifty day moving average price is $74.44 and its 200-day moving average price is $74.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data 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 business had revenue of $1.82 billion during 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 revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

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.