Fastenal (NASDAQ:FAST) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. lowered its position in shares of Fastenal (NASDAQ:FAST) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,701 shares of the company’s stock after selling 1,200 shares during the quarter. Twin Capital Management Inc.’s holdings in Fastenal were worth $2,567,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FAST. Sound Financial Strategies Group LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $873,000. Matrix Trust Co acquired a new stake in Fastenal during the fourth quarter worth about $1,756,000. Franklin Resources Inc. lifted its holdings in Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after acquiring an additional 165,423 shares during the last quarter. Czech National Bank boosted its stake in Fastenal by 6.5% in the fourth quarter. Czech National Bank now owns 124,213 shares of the company’s stock valued at $8,932,000 after acquiring an additional 7,559 shares during the period. Finally, Armstrong Henry H Associates Inc. grew its holdings in shares of Fastenal by 29.9% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock valued at $2,615,000 after purchasing an additional 8,380 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $74.42 on Monday. 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 capitalization of $42.68 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. Fastenal has a one year low of $61.36 and a one year high of $84.88. The business’s 50-day moving average price is $75.48 and its two-hundred day moving average price is $76.23.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate 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 was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. 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 2.31%. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FAST shares. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research report on Wednesday, December 11th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating in a report on Thursday. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.