Fastenal Company $FAST Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 3,056,395 shares of the company’s stock after selling 407,811 shares during the quarter. Fastenal accounts for 0.9% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 24th largest holding. Epoch Investment Partners Inc.’s holdings in Fastenal were worth $141,817,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Tandem Investment Advisors Inc. boosted its stake in shares of Fastenal by 1.8% during the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after buying an additional 224 shares during the last quarter. Sittner & Nelson LLC grew its position in shares of Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. Founders Capital Management LLC increased its stake in shares of Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after buying an additional 228 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Fastenal by 12.9% in the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Bank of America upped their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. DA Davidson reaffirmed a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, July 15th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Finally, Barclays lowered their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.83.

Fastenal Stock Up 1.9%

FAST stock opened at $47.02 on Friday. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The firm’s 50-day simple moving average is $45.92 and its 200 day simple moving average is $45.35. The stock has a market cap of $53.96 billion, a PE ratio of 39.85, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business posted $0.29 EPS. Fastenal’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts predict that Fastenal Company will post 1.25 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s dividend payout ratio is presently 81.36%.

Fastenal Company Profile

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.