SG Americas Securities LLC Sells 919,447 Shares of Fastenal Company $FAST

SG Americas Securities LLC trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 69.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 413,037 shares of the company’s stock after selling 919,447 shares during the period. SG Americas Securities LLC’s holdings in Fastenal were worth $19,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Palladiem LLC bought a new position in Fastenal in the 4th quarter valued at $25,000. Elyxium Wealth LLC bought a new stake in shares of Fastenal during the fourth quarter worth $25,000. MV Capital Management Inc. purchased a new stake in shares of Fastenal during the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Fastenal during the third quarter valued at $36,000. Finally, Field & Main Bank bought a new position in shares of Fastenal in the fourth quarter worth about $30,000. 81.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reiterated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Barclays set a $46.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. Finally, Bank of America increased their price objective on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.57.

Fastenal Trading Up 1.4%

NASDAQ:FAST opened at $46.92 on Friday. The firm has a 50-day simple moving average of $45.01 and a 200-day simple moving average of $44.60. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The firm has a market cap of $53.87 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. Equities analysts anticipate that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio is currently 84.21%.

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.