Picton Mahoney Asset Management Has $12.14 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Picton Mahoney Asset Management decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 168,761 shares of the company’s stock after selling 9,289 shares during the period. Picton Mahoney Asset Management’s holdings in Fastenal were worth $12,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of FAST. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the third quarter worth $25,000. Knuff & Co LLC bought a new position in shares of Fastenal during the 3rd quarter worth approximately $27,000. OFI Invest Asset Management bought a new position in shares of Fastenal during the 4th quarter worth approximately $46,000. Whipplewood Advisors LLC bought a new position in shares of Fastenal in the 4th quarter worth $49,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Fastenal in the 4th quarter worth $49,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of a number of analyst reports. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price of $76.91.

Fastenal Stock Up 2.1 %

Shares of NASDAQ FAST opened at $75.26 on Friday. 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 stock has a market capitalization of $43.16 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The stock’s fifty day simple moving average is $74.74 and its two-hundred day simple moving average is $75.24.

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). 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 $1.84 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. Fastenal’s dividend payout ratio 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.