Motley Fool Asset Management LLC Sells 77,568 Shares of Fastenal Company $FAST

Motley Fool Asset Management LLC decreased its position in Fastenal Company (NASDAQ:FAST) by 20.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,094 shares of the company’s stock after selling 77,568 shares during the period. Motley Fool Asset Management LLC’s holdings in Fastenal were worth $11,802,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Portfolio Design Labs LLC boosted its holdings in Fastenal by 2.9% in the fourth quarter. Portfolio Design Labs LLC now owns 30,418 shares of the company’s stock valued at $1,221,000 after acquiring an additional 862 shares during the last quarter. Westerkirk Capital Inc. boosted its holdings in Fastenal by 90.7% in the fourth quarter. Westerkirk Capital Inc. now owns 40,800 shares of the company’s stock valued at $1,637,000 after acquiring an additional 19,400 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in Fastenal by 2.5% in the fourth quarter. Marks Group Wealth Management Inc now owns 84,417 shares of the company’s stock valued at $3,388,000 after acquiring an additional 2,072 shares during the last quarter. BLI Banque de Luxembourg Investments boosted its holdings in Fastenal by 32.1% in the fourth quarter. BLI Banque de Luxembourg Investments now owns 70,000 shares of the company’s stock valued at $2,862,000 after acquiring an additional 17,000 shares during the last quarter. Finally, X Square Capital LLC boosted its holdings in Fastenal by 1.9% in the fourth quarter. X Square Capital LLC now owns 32,704 shares of the company’s stock valued at $1,312,000 after acquiring an additional 620 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.3%

NASDAQ FAST opened at $46.58 on Wednesday. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The firm has a market cap of $53.48 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.92 and a beta of 0.73. The stock’s 50-day moving average is $45.13 and its 200-day moving average is $44.12.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Fastenal’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Robert W. Baird reduced their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Bank of America raised their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Barclays set a $46.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Finally, Benchmark restated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.85.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.