TD Asset Management Inc Sells 195,640 Shares of Fastenal Company $FAST

TD Asset Management Inc lowered its position in shares of Fastenal Company (NASDAQ:FAST) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,047,323 shares of the company’s stock after selling 195,640 shares during the period. TD Asset Management Inc’s holdings in Fastenal were worth $162,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Fastenal in the 4th quarter worth approximately $25,000. REAP Financial Group LLC bought a new stake in Fastenal in the 3rd quarter worth approximately $30,000. Field & Main Bank bought a new stake in Fastenal in the 4th quarter worth approximately $30,000. Tucker Asset Management LLC bought a new stake in Fastenal in the 4th quarter worth approximately $33,000. Finally, Tradewinds Capital Management LLC bought a new stake in Fastenal in the 4th quarter worth approximately $35,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Wolfe Research cut their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.85.

Fastenal Trading Up 1.6%

Shares of Fastenal stock opened at $47.19 on Friday. The company’s fifty day simple moving average is $45.05 and its 200-day simple moving average is $43.98. The stock has a market capitalization of $54.17 billion, a PE ratio of 41.39, a P/E/G ratio of 2.96 and a beta of 0.73. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. As a group, equities analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) 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.