Illinois Municipal Retirement Fund trimmed its stake in Fastenal (NASDAQ:FAST – Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,296 shares of the company’s stock after selling 29,641 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Fastenal were worth $20,659,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. State Street Corp lifted its stake in shares of Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after buying an additional 608,596 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Fastenal by 1,789.1% in the third quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock valued at $38,262,000 after buying an additional 507,364 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Fastenal by 59.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock valued at $66,305,000 after buying an additional 345,537 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Price Performance
Shares of NASDAQ:FAST opened at $74.78 on Tuesday. The stock has a market cap of $42.88 billion, a P/E ratio of 37.20, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a 50 day moving average of $74.15 and a 200 day moving average of $74.49.
Fastenal Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s payout ratio is presently 85.57%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on FAST shares. UBS Group initiated coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Wolfe Research raised their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stifel Nicolaus dropped their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group raised their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average price target of $76.91.
Check Out Our Latest Stock Analysis on Fastenal
Fastenal 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.
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