Fastenal Company $FAST Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in shares of Fastenal Company (NASDAQ:FAST) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,366 shares of the company’s stock after selling 136,047 shares during the quarter. Natixis Advisors LLC’s holdings in Fastenal were worth $16,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Elyxium Wealth LLC acquired a new position in shares of Fastenal during the 4th quarter valued at about $25,000. REAP Financial Group LLC acquired a new position in shares of Fastenal during the 3rd quarter valued at about $30,000. Field & Main Bank acquired a new position in shares of Fastenal during the 4th quarter valued at about $30,000. Tucker Asset Management LLC acquired a new position in Fastenal in the fourth quarter valued at about $33,000. Finally, Tradewinds Capital Management LLC acquired a new position in Fastenal in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Barclays set a $46.00 target price on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Bank of America boosted their target price on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $49.85.

Fastenal Stock Down 0.8%

Shares of NASDAQ:FAST opened at $46.79 on Friday. The firm has a market capitalization of $53.72 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The firm’s 50-day moving average is $45.08 and its two-hundred day moving average is $44.00.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. Analysts predict that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 84.21%.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.