Nichols & Pratt Advisers LLP MA Has $52.95 Million Holdings in Fastenal Company $FAST

Nichols & Pratt Advisers LLP MA decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,141,131 shares of the company’s stock after selling 10,998 shares during the period. Fastenal makes up about 3.4% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 12th largest holding. Nichols & Pratt Advisers LLP MA’s holdings in Fastenal were worth $52,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC bought a new stake in shares of Fastenal in the fourth quarter valued at about $496,000. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Fastenal in the 2nd quarter valued at approximately $158,000. Jump Financial LLC acquired a new stake in Fastenal in the 2nd quarter valued at approximately $2,199,000. Finally, Cary Street Partners Financial LLC raised its position in Fastenal by 111.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after buying an additional 1,771 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAST has been the subject of a number of recent research reports. Robert W. Baird reduced their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Bank of America boosted their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Morgan Stanley set a $48.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.58.

Fastenal Stock Down 1.3%

NASDAQ:FAST opened at $46.51 on Thursday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The firm has a market capitalization of $53.40 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $45.47 and its two-hundred day moving average price is $44.99.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts expect that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a $0.24 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

Fastenal 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.