Fastenal Company $FAST Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its holdings in Fastenal Company (NASDAQ:FAST) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,464,206 shares of the company’s stock after selling 119,831 shares during the period. Epoch Investment Partners Inc.’s holdings in Fastenal were worth $139,019,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in Fastenal in the fourth quarter valued at approximately $25,000. Palladiem LLC acquired a new position in Fastenal during the fourth quarter worth $25,000. Field & Main Bank acquired a new position in Fastenal during the fourth quarter worth $30,000. Tucker Asset Management LLC acquired a new position in Fastenal during the fourth quarter worth $33,000. Finally, Tradewinds Capital Management LLC acquired a new position in Fastenal during the fourth quarter worth $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. Raymond James Financial set a $48.00 price target on Fastenal in a research note on Thursday, March 5th. Wolfe Research decreased their price target on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Robert W. Baird decreased their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley restated a “positive” rating and set a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. upped their price target on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $49.85.

Fastenal Stock Up 0.4%

Fastenal stock opened at $46.57 on Friday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $44.24. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $53.46 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.96 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts expect that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 84.21%.

Fastenal Company 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.