Fastenal Company $FAST Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of Fastenal Company (NASDAQ:FAST) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,209,280 shares of the company’s stock after selling 135,749 shares during the quarter. Hsbc Holdings PLC owned about 0.28% of Fastenal worth $128,937,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the period. Sittner & Nelson LLC raised its position in Fastenal by 0.3% in the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after purchasing an additional 226 shares during the period. Founders Capital Management LLC lifted its stake in shares of Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after purchasing an additional 228 shares during the last quarter. L2 Asset Management LLC lifted its stake in shares of Fastenal by 4.8% in the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after purchasing an additional 248 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. grew its holdings in shares of Fastenal by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock worth $322,000 after purchasing an additional 250 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FAST. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. DA Davidson began coverage on shares of Fastenal in a research note on Tuesday, June 16th. They set a “neutral” rating and a $46.00 target price for the company. Wolfe Research dropped their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $49.57.

Fastenal Trading Up 0.0%

Shares of NASDAQ FAST opened at $45.91 on Monday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $45.08 and a 200-day simple moving average of $44.46. The stock has a market capitalization of $52.70 billion, a PE ratio of 40.27, a PEG ratio of 2.92 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s 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.