MTM Investment Management LLC Sells 514 Shares of Fastenal (NASDAQ:FAST)

MTM Investment Management LLC cut its stake in Fastenal (NASDAQ:FAST) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,779 shares of the company’s stock after selling 514 shares during the period. MTM Investment Management LLC’s holdings in Fastenal were worth $344,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Fastenal in the 3rd quarter worth $25,000. Knuff & Co LLC bought a new position in Fastenal in the 3rd quarter worth $27,000. First Personal Financial Services bought a new position in Fastenal in the 3rd quarter worth $36,000. MCF Advisors LLC raised its holdings 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 in the last quarter. Finally, R Squared Ltd bought a new position in Fastenal in the 4th quarter worth $68,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

Shares of FAST stock opened at $73.68 on Thursday. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company’s 50-day moving average is $75.09 and its 200 day moving average is $74.04. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FAST shares. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research upped their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Company 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.