Fastenal (NASDAQ:FAST) Stock Position Lowered by VisionPoint Advisory Group LLC

VisionPoint Advisory Group LLC lessened its position in Fastenal (NASDAQ:FAST) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,022 shares of the company’s stock after selling 515 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Fastenal were worth $1,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal in the 3rd quarter worth $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal in the 3rd quarter worth $27,000. First Personal Financial Services acquired a new position in shares of Fastenal in the 3rd quarter worth $36,000. MCF Advisors LLC grew its holdings in shares of Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Fastenal in the 4th quarter worth $68,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Finally, Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $75.14 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 debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a market capitalization of $43.09 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last issued 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 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 analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Fastenal 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.