Fastenal Company $FAST Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST) by 92.2% in the first quarter, Holdings Channel reports. The firm owned 36,600 shares of the company’s stock after selling 431,727 shares during the period. Union Bancaire Privee UBP SA’s holdings in Fastenal were worth $1,698,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FAST. Elyxium Wealth LLC purchased a new position in Fastenal in the fourth quarter valued at about $25,000. Palladiem LLC purchased a new stake in shares of Fastenal in the fourth quarter worth about $25,000. MV Capital Management Inc. purchased a new stake in shares of Fastenal in the fourth quarter worth about $29,000. Field & Main Bank acquired a new stake in shares of Fastenal in the fourth quarter valued at about $30,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $33,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.4%

Shares of FAST opened at $47.10 on Friday. The company has a market capitalization of $54.07 billion, a P/E ratio of 41.32, a P/E/G ratio of 3.00 and a beta of 0.73. 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 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The stock has a 50-day moving average price of $45.06 and a 200 day moving average price of $44.62.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business earned $0.52 EPS. Fastenal’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FAST shares. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research report on Tuesday, April 14th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Barclays set a $46.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, Bank of America raised their price target on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $49.57.

About Fastenal

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.