TCV Trust & Wealth Management Inc. Sells 1,925 Shares of Fastenal (NASDAQ:FAST)

TCV Trust & Wealth Management Inc. lowered its position in Fastenal (NASDAQ:FAST) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 181,485 shares of the company’s stock after selling 1,925 shares during the period. Fastenal makes up about 1.2% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 29th largest position. TCV Trust & Wealth Management Inc.’s holdings in Fastenal were worth $13,051,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal during the third quarter worth $27,000. First Personal Financial Services bought a new stake in Fastenal in the 3rd quarter valued at $36,000. MCF Advisors LLC boosted its stake in Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares during the period. Finally, R Squared Ltd bought a new position in Fastenal during the 4th quarter worth about $68,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $74.33 on Wednesday. The firm has a market capitalization of $42.58 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 3.55 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. The firm’s fifty day moving average price is $75.26 and its two-hundred day moving average price is $74.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FAST. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.91.

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.