SNS Financial Group LLC Sells 544 Shares of Fastenal (NASDAQ:FAST)

SNS Financial Group LLC lessened its position in shares of Fastenal (NASDAQ:FAST) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,810 shares of the company’s stock after selling 544 shares during the period. SNS Financial Group LLC’s holdings in Fastenal were worth $418,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FAST. Ashton Thomas Securities LLC bought a new position in Fastenal during the 3rd quarter worth about $25,000. Knuff & Co LLC bought a new position in Fastenal during the 3rd quarter worth about $27,000. First Personal Financial Services bought a new position in Fastenal during the 3rd quarter worth about $36,000. MCF Advisors LLC increased its holdings in Fastenal by 54.1% during 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 shares of Fastenal in the 4th quarter valued at about $68,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.0 %

Shares of NASDAQ:FAST opened at $75.57 on Thursday. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a market capitalization of $43.33 billion, a P/E ratio of 37.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.02. The company has a 50-day simple moving average of $74.44 and a 200 day simple moving average of $74.23. 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 issued its quarterly earnings data 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. Sell-side analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. The ex-dividend date is 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 2.28%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FAST. Jefferies Financial Group raised their price objective 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 report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. HSBC cut 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. Finally, Wolfe Research raised their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.