Fastenal (NASDAQ:FAST) Shares Sold by Compass Ion Advisors LLC

Compass Ion Advisors LLC decreased its stake in Fastenal (NASDAQ:FAST) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,697 shares of the company’s stock after selling 230 shares during the period. Compass Ion Advisors LLC’s holdings in Fastenal were worth $697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FAST. Natixis Advisors LLC boosted its position in shares of Fastenal by 21.7% in the third quarter. Natixis Advisors LLC now owns 205,720 shares of the company’s stock worth $14,693,000 after buying an additional 36,673 shares during the period. TrinityPoint Wealth LLC boosted its position in shares of Fastenal by 2.3% in the third quarter. TrinityPoint Wealth LLC now owns 12,113 shares of the company’s stock worth $865,000 after buying an additional 274 shares during the period. Drive Wealth Management LLC boosted its position in shares of Fastenal by 5.8% in the third quarter. Drive Wealth Management LLC now owns 4,857 shares of the company’s stock worth $347,000 after buying an additional 267 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of Fastenal by 3.8% in the third quarter. Meeder Advisory Services Inc. now owns 13,145 shares of the company’s stock worth $939,000 after buying an additional 487 shares during the period. Finally, Baron Wealth Management LLC boosted its position in shares of Fastenal by 9.7% in the third quarter. Baron Wealth Management LLC now owns 10,141 shares of the company’s stock worth $724,000 after buying an additional 897 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.0 %

NASDAQ:FAST opened at $76.09 on Wednesday. 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 business’s 50 day moving average is $74.90 and its two-hundred day moving average is $75.46. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The company has a market cap of $43.63 billion, a PE ratio of 37.86, a P/E/G ratio of 3.58 and a beta of 1.05.

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

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. HSBC downgraded 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. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Finally, Jefferies Financial Group increased 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $76.91.

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.