First Trust Advisors LP Sells 233,122 Shares of Fastenal Company $FAST

First Trust Advisors LP decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,510,496 shares of the company’s stock after selling 233,122 shares during the period. First Trust Advisors LP owned about 0.13% of Fastenal worth $70,087,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its position in shares of Fastenal by 1.2% during the 4th quarter. State Street Corp now owns 54,734,674 shares of the company’s stock worth $2,196,502,000 after buying an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fastenal by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after acquiring an additional 919,158 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after acquiring an additional 685,047 shares in the last quarter. Invesco Ltd. increased its position in shares of Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after acquiring an additional 2,242,116 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Fastenal during the fourth quarter valued at approximately $646,046,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 1.9%

Shares of NASDAQ FAST opened at $47.02 on Friday. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The business’s fifty day moving average price is $45.92 and its 200-day moving average price is $45.35. The stock has a market capitalization of $53.96 billion, a PE ratio of 39.85, a P/E/G ratio of 2.94 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Fastenal Company will post 1.25 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be given a dividend of $0.26 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is 81.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FAST. Barclays cut their price target on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Finally, Robert W. Baird reduced their target price on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.83.

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.