Entropy Technologies LP purchased a new stake in Fastenal (NASDAQ:FAST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,635 shares of the company's stock, valued at approximately $549,000.
Other hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC bought a new stake in Fastenal in the 3rd quarter valued at $310,000. Comgest Global Investors S.A.S. boosted its holdings in Fastenal by 73.0% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company's stock valued at $6,219,000 after purchasing an additional 36,742 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Fastenal by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company's stock valued at $26,373,000 after purchasing an additional 6,488 shares during the period. Matrix Trust Co bought a new stake in Fastenal in the 4th quarter valued at $1,756,000. Finally, Franklin Resources Inc. boosted its holdings in Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock valued at $350,703,000 after purchasing an additional 165,423 shares during the period. 81.38% of the stock is owned by institutional investors.
Fastenal Price Performance
FAST stock traded down $0.01 during trading on Friday, hitting $74.78. 2,549,000 shares of the stock traded hands, compared to its average volume of 3,333,444. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 3.55 and a beta of 1.02. The company has a 50 day simple moving average of $74.65 and a 200 day simple moving average of $74.10. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.
Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly 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 net margin of 15.25% and a return on equity of 32.55%. The firm 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 business earned $0.46 earnings per share. The company's revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio (DPR) is presently 85.57%.
Analysts Set New Price Targets
A number of analysts have weighed in on FAST shares. Jefferies Financial Group increased their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. HSBC downgraded shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price objective for the company. Finally, Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Fastenal presently has an average rating of "Hold" and a consensus price target of $76.91.
Check Out Our Latest Stock Report on Fastenal
About Fastenal
(
Free Report)
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.
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