Roberts Glore & Co. Inc. IL Sells 512 Shares of Fastenal (NASDAQ:FAST)

Roberts Glore & Co. Inc. IL cut its position in shares of Fastenal (NASDAQ:FAST) by 4.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,452 shares of the company’s stock after selling 512 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Fastenal were worth $752,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FAST. Ashton Thomas Securities LLC bought a new position in shares of Fastenal during the third quarter worth about $25,000. Knuff & Co LLC bought a new position in shares of Fastenal during the third quarter worth about $27,000. First Personal Financial Services bought a new position in Fastenal in the third quarter valued at approximately $36,000. OFI Invest Asset Management bought a new position in Fastenal in the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC bought a new position in Fastenal in the fourth quarter valued at approximately $49,000. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group assumed coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Jefferies Financial Group raised their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

FAST opened at $79.98 on Friday. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The stock has a market cap of $45.86 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 3.58 and a beta of 1.05. The business has a 50 day moving average of $74.27 and a 200-day moving average of $74.99. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during 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%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. On average, equities research analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

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

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.