Fastenal (NASDAQ:FAST) Position Lessened by Accredited Investors Inc.

Accredited Investors Inc. cut its holdings in Fastenal (NASDAQ:FAST) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,616 shares of the company’s stock after selling 1,818 shares during the period. Accredited Investors Inc.’s holdings in Fastenal were worth $1,195,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FAST. OFI Invest Asset Management acquired a new position in shares of Fastenal during the fourth quarter worth approximately $46,000. Whipplewood Advisors LLC acquired a new position in shares of Fastenal during the fourth quarter worth about $49,000. SBI Securities Co. Ltd. acquired a new stake in Fastenal in the 4th quarter valued at $49,000. R Squared Ltd acquired a new position in Fastenal during the fourth quarter valued at approximately $68,000. Finally, Eastern Bank grew its stake in shares of Fastenal by 440.7% in the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after buying an additional 802 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $76.47 on Thursday. 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 has a 1 year low of $61.36 and a 1 year high of $84.88. The firm has a fifty day moving average price of $75.37 and a 200-day moving average price of $76.24. The stock has a market cap of $43.85 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last announced 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 net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. Equities analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.25%. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analyst Ratings Changes

A number of research firms recently commented on FAST. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.