Capital City Trust Co. FL Has $1.37 Million Stake in Fastenal (NASDAQ:FAST)

Capital City Trust Co. FL trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,049 shares of the company’s stock after selling 466 shares during the period. Capital City Trust Co. FL’s holdings in Fastenal were worth $1,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. King Luther Capital Management Corp boosted its position in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after buying an additional 136 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after buying an additional 142 shares during the last quarter. HB Wealth Management LLC boosted its position in Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after buying an additional 142 shares during the last quarter. Catalina Capital Group LLC boosted its position in Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after buying an additional 146 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Fastenal by 1.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock valued at $653,000 after buying an additional 165 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FAST has been the topic of several recent research reports. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target on the stock. Jefferies Financial Group raised their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research raised their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

FAST stock opened at $74.78 on Friday. The business’s 50-day moving average price is $74.29 and its two-hundred day moving average price is $74.24. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The firm has a market cap of $42.88 billion, a PE ratio of 37.20, a P/E/G ratio of 3.60 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is currently 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.