Verdence Capital Advisors LLC Trims Position in Fastenal (NASDAQ:FAST)

Verdence Capital Advisors LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 23.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,877 shares of the company’s stock after selling 1,751 shares during the period. Verdence Capital Advisors LLC’s holdings in Fastenal were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sound Financial Strategies Group LLC purchased a new stake in shares of Fastenal in the fourth quarter valued at about $873,000. Proficio Capital Partners LLC purchased a new position in Fastenal during the fourth quarter worth about $409,000. Assetmark Inc. raised its holdings in Fastenal by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,037 shares of the company’s stock worth $362,000 after purchasing an additional 730 shares in the last quarter. Crew Capital Management Ltd. raised its holdings in Fastenal by 5.8% during the fourth quarter. Crew Capital Management Ltd. now owns 15,271 shares of the company’s stock worth $1,098,000 after purchasing an additional 834 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in Fastenal by 2.3% during the fourth quarter. Keybank National Association OH now owns 18,021 shares of the company’s stock worth $1,296,000 after purchasing an additional 412 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 4.5 %

FAST stock opened at $77.85 on Friday. The company’s 50 day simple moving average is $74.13 and its 200-day simple moving average is $74.84. The firm has a market capitalization of $44.64 billion, a PE ratio of 38.73, a P/E/G ratio of 3.58 and a beta of 1.02. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. 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 (NASDAQ:FAST) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.21%. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Ratings Changes

Several research firms recently issued reports on FAST. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. 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 research report on Wednesday, December 11th. Finally, Jefferies Financial Group upped their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average target price 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.