Fastenal (NASDAQ:FAST) Shares Sold by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,733 shares of the company’s stock after selling 383 shares during the quarter. Fastenal comprises about 1.2% of J. W. Coons Advisors LLC’s investment portfolio, making the stock its 17th largest holding. J. W. Coons Advisors LLC’s holdings in Fastenal were worth $4,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FAST. Allspring Global Investments Holdings LLC boosted its holdings in shares of Fastenal by 2.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,689 shares of the company’s stock valued at $2,406,000 after acquiring an additional 907 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Fastenal by 1.8% in the third quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock worth $653,000 after purchasing an additional 165 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Fastenal by 783.9% in the third quarter. Assenagon Asset Management S.A. now owns 125,854 shares of the company’s stock worth $8,988,000 after purchasing an additional 111,615 shares during the period. Ballentine Partners LLC lifted its holdings in Fastenal by 2.9% in the third quarter. Ballentine Partners LLC now owns 10,551 shares of the company’s stock worth $754,000 after purchasing an additional 301 shares during the period. Finally, Allworth Financial LP lifted its holdings in Fastenal by 3.3% in the third quarter. Allworth Financial LP now owns 6,438 shares of the company’s stock worth $460,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $74.78 on Monday. The stock’s 50-day moving average price is $74.22 and its two-hundred day moving average price is $74.43. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The company has a market cap of $42.88 billion, a PE ratio of 37.20, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is presently 85.57%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Wolfe Research upped their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.