Fastenal (NASDAQ:FAST) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. decreased its holdings in Fastenal (NASDAQ:FAST) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,839 shares of the company’s stock after selling 859 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Fastenal were worth $2,433,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sound Financial Strategies Group LLC acquired a new stake in shares of Fastenal in the 4th quarter worth $873,000. PNC Financial Services Group Inc. lifted its holdings in shares of Fastenal by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock valued at $26,373,000 after buying an additional 6,488 shares during the period. Matrix Trust Co acquired a new position in shares of Fastenal in the 4th quarter valued at about $1,756,000. Franklin Resources Inc. lifted its holdings in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after buying an additional 165,423 shares during the period. Finally, Armstrong Henry H Associates Inc. lifted its holdings in shares of Fastenal by 29.9% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock valued at $2,615,000 after buying an additional 8,380 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 2.1 %

NASDAQ:FAST opened at $75.26 on Monday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $74.74 and its two-hundred day moving average is $75.35. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its quarterly 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 return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FAST. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus cut their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.