Yousif Capital Management LLC Lowers Stock Holdings in Fastenal (NASDAQ:FAST)

Yousif Capital Management LLC trimmed its stake in Fastenal (NASDAQ:FAST) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,819 shares of the company’s stock after selling 3,236 shares during the period. Yousif Capital Management LLC’s holdings in Fastenal were worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in FAST. Hartford Financial Management Inc. lifted its position in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastenal during the fourth quarter valued at approximately $35,000. Criterion Capital Advisors LLC purchased a new stake in Fastenal during the fourth quarter valued at approximately $43,000. Pacific Center for Financial Services purchased a new stake in Fastenal during the third quarter valued at approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Fastenal by 77.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after acquiring an additional 474 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 0.6 %

NASDAQ:FAST opened at $68.14 on Friday. The firm has a market capitalization of $39.01 billion, a P/E ratio of 33.73, a PEG ratio of 3.55 and a beta of 1.05. Fastenal has a 1-year low of $52.28 and a 1-year high of $79.04. The company’s fifty day moving average price is $73.45 and its 200-day moving average price is $66.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, equities research analysts anticipate that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FAST shares. Robert W. Baird decreased their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $67.67.

Insider Buying and Selling

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Insiders have sold a total of 36,082 shares of company stock valued at $2,584,060 in the last ninety days. Company insiders own 0.41% of the company’s stock.

About Fastenal

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.