Fastenal (NASDAQ:FAST) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 303,495 shares of the company’s stock after selling 6,424 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Fastenal worth $21,824,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FAST. Pictet North America Advisors SA grew its holdings in shares of Fastenal by 2.4% during the 4th quarter. Pictet North America Advisors SA now owns 77,419 shares of the company’s stock worth $5,567,000 after purchasing an additional 1,829 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Fastenal by 0.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 244,264 shares of the company’s stock worth $17,835,000 after purchasing an additional 2,238 shares during the period. Avestar Capital LLC grew its holdings in shares of Fastenal by 7.9% during the 4th quarter. Avestar Capital LLC now owns 3,088 shares of the company’s stock worth $222,000 after purchasing an additional 226 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Fastenal during the 4th quarter worth about $481,000. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Fastenal by 24.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 16,819 shares of the company’s stock worth $1,209,000 after purchasing an additional 3,292 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of FAST opened at $74.78 on Friday. The business’s 50 day moving average is $74.65 and its two-hundred day moving average is $74.07. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.55 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

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 analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FAST shares. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. UBS Group started coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Jefferies Financial Group upped their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a report on Wednesday, December 11th. 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 stock. Based on data from MarketBeat, the company currently has a consensus 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.