Global Retirement Partners LLC Sells 1,267 Shares of Fastenal (NASDAQ:FAST)

Global Retirement Partners LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,403 shares of the company’s stock after selling 1,267 shares during the quarter. Global Retirement Partners LLC’s holdings in Fastenal were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of FAST. Ashton Thomas Securities LLC purchased a new stake in Fastenal in the third quarter worth about $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $27,000. First Personal Financial Services purchased a new stake in shares of Fastenal in the 3rd quarter worth approximately $36,000. R Squared Ltd bought a new position in Fastenal during the 4th quarter valued at approximately $68,000. Finally, Eastern Bank raised its stake in Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after buying an additional 802 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Price Performance

Shares of FAST opened at $74.78 on Tuesday. The firm has a fifty day simple moving average of $74.15 and a two-hundred day simple moving average of $74.49. The firm has a market cap of $42.88 billion, a PE ratio of 37.20, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities analysts anticipate 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 paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 85.57%.

Wall Street Analyst Weigh In

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

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.