Meeder Advisory Services Inc. Sells 992 Shares of Fastenal (NASDAQ:FAST)

Meeder Advisory Services Inc. reduced its position in shares of Fastenal (NASDAQ:FAST – Free Report) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,153 shares of the company’s stock after selling 992 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Fastenal were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its stake in shares of Fastenal by 1.2% during the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after buying an additional 142 shares during the last quarter. Cozad Asset Management Inc. grew its holdings in Fastenal by 5.5% during the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock worth $215,000 after acquiring an additional 155 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after acquiring an additional 164 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after purchasing an additional 166 shares during the period. Finally, Resonant Capital Advisors LLC boosted its position in shares of Fastenal by 1.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock worth $1,026,000 after purchasing an additional 177 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus dropped their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.91.

Read Our Latest Research Report on FAST

Fastenal Price Performance

NASDAQ:FAST opened at $78.01 on Friday. The stock’s 50-day simple moving average is $75.51 and its 200 day simple moving average is $76.12. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The company has a market cap of $44.73 billion, a P/E ratio of 38.81, a P/E/G ratio of 3.58 and a beta of 1.04.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.20%. Fastenal’s payout ratio is currently 85.57%.

Fastenal Company Profile

(Free Report)

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.

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