Banque Cantonale Vaudoise Sells 21,630 Shares of Fastenal Company $FAST

Banque Cantonale Vaudoise cut its holdings in Fastenal Company (NASDAQ:FAST) by 28.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,152 shares of the company’s stock after selling 21,630 shares during the period. Banque Cantonale Vaudoise’s holdings in Fastenal were worth $2,559,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FAST. Palladiem LLC bought a new position in Fastenal in the fourth quarter valued at $25,000. Elyxium Wealth LLC bought a new stake in Fastenal during the 4th quarter worth about $25,000. MV Capital Management Inc. bought a new stake in Fastenal during the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fastenal during the 3rd quarter worth about $36,000. Finally, Field & Main Bank bought a new position in shares of Fastenal in the 4th quarter valued at about $30,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FAST. JPMorgan Chase & Co. lifted their target price on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Morgan Stanley reiterated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Barclays set a $46.00 price objective on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Finally, DA Davidson initiated coverage on shares of Fastenal in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.57.

Fastenal Trading Up 1.4%

Shares of NASDAQ:FAST opened at $46.92 on Friday. The business’s 50 day simple moving average is $45.01 and its 200 day simple moving average is $44.60. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. 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 company has a market capitalization of $53.87 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.95 and a beta of 0.73.

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

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

Fastenal 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.