Taylor Frigon Capital Management LLC Has $1.09 Million Holdings in Fastenal (NASDAQ:FAST)

Taylor Frigon Capital Management LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 37.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,155 shares of the company’s stock after selling 9,171 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Fastenal were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC lifted its holdings in Fastenal by 2.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after buying an additional 164 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Fastenal by 4.1% in the fourth quarter. Lake Street Advisors Group LLC now owns 7,159 shares of the company’s stock valued at $515,000 after buying an additional 284 shares during the period. Pinnacle West Asset Management Inc. acquired a new position in Fastenal in the fourth quarter valued at $218,000. Los Angeles Capital Management LLC lifted its holdings in Fastenal by 37.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 693,950 shares of the company’s stock valued at $49,902,000 after buying an additional 187,995 shares during the period. Finally, Amalgamated Bank lifted its holdings in Fastenal by 1.6% in the fourth quarter. Amalgamated Bank now owns 129,099 shares of the company’s stock valued at $9,284,000 after buying an additional 2,028 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 1.0 %

NASDAQ:FAST opened at $73.89 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm has a 50-day moving average of $74.07 and a 200-day moving average of $74.54. The company has a market cap of $42.37 billion, a PE ratio of 36.76, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for 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 company’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 earnings per share. As a group, equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FAST shares. Wolfe Research boosted their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Stifel Nicolaus dropped their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.