FineMark National Bank & Trust Has $759,000 Holdings in Fastenal (NASDAQ:FAST)

FineMark National Bank & Trust decreased its stake in shares of Fastenal (NASDAQ:FAST) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,555 shares of the company’s stock after selling 1,500 shares during the quarter. FineMark National Bank & Trust’s holdings in Fastenal were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of FAST. Prospera Financial Services Inc increased its stake in Fastenal by 9.6% in the third quarter. Prospera Financial Services Inc now owns 3,584 shares of the company’s stock valued at $256,000 after purchasing an additional 314 shares in the last quarter. Cerity Partners LLC increased its position in Fastenal by 12.4% in the 3rd quarter. Cerity Partners LLC now owns 197,825 shares of the company’s stock valued at $14,129,000 after buying an additional 21,771 shares in the last quarter. Swedbank AB raised its stake in Fastenal by 1.9% during the 3rd quarter. Swedbank AB now owns 354,618 shares of the company’s stock worth $25,327,000 after buying an additional 6,659 shares during the period. Larson Financial Group LLC boosted its holdings in Fastenal by 7.0% in the third quarter. Larson Financial Group LLC now owns 4,407 shares of the company’s stock worth $315,000 after acquiring an additional 288 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Fastenal in the third quarter valued at approximately $310,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $77.09 on Wednesday. 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 firm has a market cap of $44.21 billion, a PE ratio of 38.35, a P/E/G ratio of 3.58 and a beta of 1.05. The business has a 50 day moving average of $75.23 and a 200-day moving average of $75.81. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, sell-side analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.23%. Fastenal’s payout ratio is currently 85.57%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FAST shares. Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Wolfe Research upped their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.91.

About Fastenal

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.