Blue Trust Inc. Sells 5,038 Shares of Fastenal (NASDAQ:FAST)

Blue Trust Inc. trimmed its stake in Fastenal (NASDAQ:FAST) by 61.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,155 shares of the company’s stock after selling 5,038 shares during the period. Blue Trust Inc.’s holdings in Fastenal were worth $227,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FAST. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the 3rd quarter worth $25,000. Knuff & Co LLC acquired a new position in Fastenal during the 3rd quarter valued at about $27,000. First Personal Financial Services acquired a new position in Fastenal during the 3rd quarter valued at about $36,000. MCF Advisors LLC increased its position in Fastenal by 54.1% during the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Fastenal during the 4th quarter valued at about $68,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Up 1.0 %

Shares of FAST opened at $75.57 on Thursday. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. 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 $43.33 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 3.57 and a beta of 1.02. The stock’s 50-day moving average price is $74.44 and its 200-day moving average price is $74.23.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. Fastenal’s dividend payout ratio is presently 85.57%.

Wall Street Analysts Forecast Growth

FAST has been the topic of several recent analyst reports. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Two 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. Based on data from MarketBeat, the stock 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.