Allspring Global Investments Holdings LLC Sells 1,319 Shares of Fastenal (NASDAQ:FAST)

Allspring Global Investments Holdings LLC decreased its stake in shares of Fastenal (NASDAQ:FAST) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,370 shares of the company’s stock after selling 1,319 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fastenal were worth $2,302,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal during the third quarter worth $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal during the third quarter worth $27,000. First Personal Financial Services bought a new stake in shares of Fastenal during the third quarter worth $36,000. MCF Advisors LLC increased its position in shares of Fastenal by 54.1% during the third quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Fastenal during the fourth quarter worth $68,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $74.78 on Friday. The stock has a market cap of $42.88 billion, a P/E ratio of 37.20, a P/E/G ratio of 3.60 and a beta of 1.02. 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 fifty day moving average price of $74.29 and a two-hundred day moving average price of $74.24. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last announced its quarterly 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). 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%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. As a group, equities 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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. UBS Group began coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $76.91.

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.