Mackenzie Financial Corp Lowers Holdings in Fastenal (NASDAQ:FAST)

Mackenzie Financial Corp decreased its stake in shares of Fastenal (NASDAQ:FAST) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,396,647 shares of the company’s stock after selling 10,419 shares during the quarter. Mackenzie Financial Corp owned about 0.24% of Fastenal worth $90,461,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FAST. Roundview Capital LLC raised its stake in Fastenal by 0.6% during the first quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock valued at $5,069,000 after buying an additional 479 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Fastenal by 55.3% in the 1st quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock worth $1,140,000 after purchasing an additional 6,797 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Fastenal by 18.1% in the 1st quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock worth $14,218,000 after purchasing an additional 36,709 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Fastenal by 24.6% in the 1st quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock worth $1,559,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Fastenal by 9.0% in the 1st quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock worth $566,000 after purchasing an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Reyne K. Wisecup sold 34,042 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $1,369,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction dated 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. Over the last three months, insiders have sold 105,682 shares of company stock worth $7,375,853. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FAST. Loop Capital reduced their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday. Robert W. Baird reduced their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus lifted their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, HSBC lifted their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $67.67.

Fastenal Stock Performance

Shares of FAST opened at $69.39 on Tuesday. 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 has a one year low of $52.28 and a one year high of $79.04. The firm has a market capitalization of $39.71 billion, a P/E ratio of 34.35, a PEG ratio of 3.64 and a beta of 1.05. The business has a fifty day moving average of $73.74 and a 200 day moving average of $66.08.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.25%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

About Fastenal

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.