Lee Financial Co Decreases Stock Position in Fastenal (NASDAQ:FAST)

Lee Financial Co cut its stake in Fastenal (NASDAQ:FAST) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,143 shares of the company’s stock after selling 240 shares during the quarter. Lee Financial Co’s holdings in Fastenal were worth $1,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp lifted its holdings in shares of Fastenal by 1.6% in the 3rd 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 lifted its stake in Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Fastenal by 1.2% during 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 period. Compass Ion Advisors LLC grew its stake in shares of Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC raised its holdings in shares of Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after buying an additional 146 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $74.78 on Friday. The firm has a 50 day moving average of $74.65 and a 200 day moving average of $74.07. 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 company has a market capitalization of $42.84 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88.

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). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Analyst Ratings Changes

FAST has been the subject of a number of recent analyst reports. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. UBS Group started coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Stifel Nicolaus reduced their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Jefferies Financial Group lifted 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. Finally, Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two investment 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. According to MarketBeat.com, Fastenal presently has a consensus 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.