Capital Management Corp VA Sells 2,190 Shares of Fastenal (NASDAQ:FAST)

Capital Management Corp VA lessened its stake in shares of Fastenal (NASDAQ:FAST) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 84,374 shares of the company’s stock after selling 2,190 shares during the period. Capital Management Corp VA’s holdings in Fastenal were worth $6,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $101,183,000. State Street Corp grew its position in Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Fastenal by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after purchasing an additional 886,999 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after buying an additional 880,372 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Fastenal by 1,789.1% during the third quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after buying an additional 507,364 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 2.7 %

Shares of NASDAQ:FAST opened at $79.98 on Friday. The company has a market capitalization of $45.86 billion, a PE ratio of 39.79, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business has a fifty day moving average price of $74.27 and a two-hundred day moving average price of $74.94.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Company 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.