Clifford Swan Investment Counsel LLC Reduces Holdings in Fastenal (NASDAQ:FAST)

Clifford Swan Investment Counsel LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 438,859 shares of the company’s stock after selling 3,935 shares during the period. Fastenal accounts for approximately 1.1% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 21st biggest holding. Clifford Swan Investment Counsel LLC’s holdings in Fastenal were worth $31,558,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. King Luther Capital Management Corp grew its stake in shares of Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after buying an additional 142 shares during the last quarter. HB Wealth Management LLC boosted its position in Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after buying an additional 142 shares during the last quarter. Catalina Capital Group LLC boosted its position in Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after buying an additional 146 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position 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 last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 2.2 %

Shares of FAST stock opened at $75.73 on Friday. 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 company has a market cap of $43.43 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 3.58 and a beta of 1.02. The stock has a 50 day simple moving average of $74.09 and a 200-day simple moving average of $74.66. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. This is an increase 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research report on Wednesday, December 11th. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Company 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.