Peapack Gladstone Financial Corp Sells 1,602 Shares of Fastenal (NASDAQ:FAST)

Peapack Gladstone Financial Corp cut its position in shares of Fastenal (NASDAQ:FAST) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,272 shares of the company’s stock after selling 1,602 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Fastenal were worth $4,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC boosted its position in Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after acquiring an additional 142 shares during the last quarter. Cozad Asset Management Inc. boosted its holdings in Fastenal by 5.5% during the fourth quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock worth $215,000 after purchasing an additional 155 shares during the last quarter. Checchi Capital Advisers LLC grew 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 purchasing an additional 164 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after buying an additional 166 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in Fastenal by 1.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock worth $1,026,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of several analyst reports. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Stock Down 3.0 %

Shares of FAST opened at $72.16 on Tuesday. The firm has a market cap of $41.38 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The firm’s 50-day simple moving average is $75.40 and its 200 day simple moving average is $76.23.

Fastenal (NASDAQ:FAST) last posted its 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 firm 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%. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, analysts forecast that Fastenal will post 2.15 earnings per share for the current 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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is presently 85.57%.

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.