Fastenal (NASDAQ:FAST) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its position in shares of Fastenal (NASDAQ:FAST) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,767 shares of the company’s stock after selling 2,100 shares during the period. Arcadia Investment Management Corp MI’s holdings in Fastenal were worth $5,017,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FAST. King Luther Capital Management Corp increased its holdings in shares of 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 acquiring an additional 136 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of 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 acquiring an additional 142 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 142 shares during the last quarter. Catalina Capital Group LLC increased its holdings in shares of 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 acquiring an additional 146 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of 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 acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $75.14 on Friday. The company has a market cap of $43.09 billion, a P/E ratio of 37.38, a P/E/G ratio of 3.60 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The business has a fifty day simple moving average of $74.37 and a 200-day simple moving average of $74.23.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS 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 analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. Equities research analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

Analysts Set New Price Targets

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

Fastenal Company 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.