Nichols & Pratt Advisers LLP MA Sells 10,998 Shares of Fastenal Company $FAST

Nichols & Pratt Advisers LLP MA reduced its position in Fastenal Company (NASDAQ:FAST) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,141,131 shares of the company’s stock after selling 10,998 shares during the period. Fastenal accounts for approximately 3.4% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 12th largest holding. Nichols & Pratt Advisers LLP MA owned approximately 0.10% of Fastenal worth $52,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Fastenal during the 4th quarter valued at $646,046,000. Wellington Management Group LLP lifted its stake in shares of Fastenal by 243.5% in the 4th quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company’s stock valued at $485,380,000 after purchasing an additional 8,574,208 shares during the period. Bank of America Corp DE boosted its position in shares of Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after purchasing an additional 7,943,217 shares during the last quarter. Invesco Ltd. boosted its position in shares of Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after purchasing an additional 2,242,116 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Fastenal by 1,039.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after purchasing an additional 2,132,593 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $46.51 on Thursday. The company has a market capitalization of $53.40 billion, a PE ratio of 40.80, a PEG ratio of 2.98 and a beta of 0.72. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $45.47 and its 200 day simple moving average is $44.99.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts predict that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Analyst Ratings Changes

FAST has been the subject of a number of recent analyst reports. DA Davidson started coverage on Fastenal in a report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price objective for the company. Morgan Stanley set a $48.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 price target on shares of Fastenal in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Finally, Bank of America increased their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $47.58.

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.