Nichols & Pratt Advisers LLP MA Sells 7,146 Shares of Fastenal (NASDAQ:FAST)

Nichols & Pratt Advisers LLP MA decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 593,367 shares of the company’s stock after selling 7,146 shares during the period. Fastenal accounts for about 2.7% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 13th biggest position. Nichols & Pratt Advisers LLP MA owned 0.10% of Fastenal worth $38,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its holdings in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the fourth quarter worth $35,000. Criterion Capital Advisors LLC bought a new stake in Fastenal during the fourth quarter worth about $43,000. First Horizon Advisors Inc. boosted its position in shares of Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after purchasing an additional 558 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new stake in Fastenal in the third quarter worth $66,000. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In related news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.10 during midday trading on Friday, reaching $67.72. The company’s stock had a trading volume of 490,574 shares, compared to its average volume of 3,911,427. The business’s fifty day simple moving average is $72.63 and its 200-day simple moving average is $67.29. The company has a market capitalization of $38.77 billion, a P/E ratio of 33.48, a P/E/G ratio of 3.58 and a beta of 1.07. Fastenal has a fifty-two week low of $52.86 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities research analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.30%. Fastenal’s payout ratio is 77.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HSBC upped their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Robert W. Baird dropped their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday. Loop Capital dropped their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $67.33.

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.