SG Americas Securities LLC Lowers Position in Fastenal Company $FAST

SG Americas Securities LLC decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 69.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 413,037 shares of the company’s stock after selling 919,447 shares during the quarter. SG Americas Securities LLC’s holdings in Fastenal were worth $19,165,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new position in shares of Fastenal during the 4th quarter valued at about $25,000. Palladiem LLC bought a new stake in shares of Fastenal in the fourth quarter worth about $25,000. MV Capital Management Inc. bought a new stake in shares of Fastenal in the fourth quarter worth about $29,000. Field & Main Bank purchased a new stake in shares of Fastenal in the fourth quarter worth about $30,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Fastenal in the fourth quarter worth about $33,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Price Performance

NASDAQ:FAST opened at $46.92 on Friday. The firm has a market capitalization of $53.87 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 2.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The business has a 50 day simple moving average of $45.01 and a 200-day simple moving average of $44.60. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63.

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

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. Fastenal’s dividend payout ratio is currently 84.21%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FAST shares. Bank of America raised their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Robert W. Baird lowered their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. DA Davidson began coverage on shares of Fastenal in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, Raymond James Financial set a $48.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $49.57.

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.