Proficio Capital Partners LLC Makes New Investment in Fastenal (NASDAQ:FAST)

Proficio Capital Partners LLC bought a new position in shares of Fastenal (NASDAQ:FAST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,694 shares of the company's stock, valued at approximately $409,000.

Several other institutional investors also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in Fastenal during the fourth quarter valued at approximately $49,000. SBI Securities Co. Ltd. bought a new position in shares of Fastenal during the fourth quarter worth $49,000. R Squared Ltd acquired a new position in shares of Fastenal in the 4th quarter valued at $68,000. Eastern Bank increased its position in shares of Fastenal by 440.7% in the 4th quarter. Eastern Bank now owns 984 shares of the company's stock valued at $71,000 after buying an additional 802 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in Fastenal during the 4th quarter worth $73,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Down 2.0 %

Fastenal stock traded down $1.56 during mid-day trading on Friday, hitting $76.17. 2,689,065 shares of the stock were exchanged, compared to its average volume of 3,059,511. The stock has a market capitalization of $43.68 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The firm's fifty day simple moving average is $75.35 and its two-hundred day simple moving average is $75.83.

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Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company earned $0.46 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is presently 85.57%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. HSBC lowered Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Finally, Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $76.91.

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.