Corient Private Wealth LLC Grows Stake in Fastenal (NASDAQ:FAST)

Corient Private Wealth LLC boosted its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 242.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 388,595 shares of the company's stock after purchasing an additional 274,988 shares during the period. Corient Private Wealth LLC owned about 0.07% of Fastenal worth $27,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knuff & Co LLC purchased a new stake in shares of Fastenal during the 3rd quarter valued at about $27,000. OFI Invest Asset Management bought a new stake in shares of Fastenal during the 4th quarter valued at $46,000. Whipplewood Advisors LLC purchased a new stake in shares of Fastenal in the 4th quarter worth $49,000. SBI Securities Co. Ltd. bought a new position in Fastenal in the 4th quarter worth $49,000. Finally, R Squared Ltd purchased a new position in Fastenal during the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Trading Down 1.0 %

Shares of NASDAQ:FAST traded down $0.78 during trading on Friday, reaching $74.73. The company's stock had a trading volume of 8,781,375 shares, compared to its average volume of 2,923,942. The firm's 50 day simple moving average is $75.08 and its two-hundred day simple moving average is $75.52. 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 has a 12 month low of $61.36 and a 12 month high of $84.88. The stock has a market capitalization of $42.85 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

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Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The company reported $0.46 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 quarter in the previous year, the company posted $0.46 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts predict that Fastenal will post 2.15 EPS for the current fiscal 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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. This is an increase from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal's dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

FAST has been the subject of a number of analyst reports. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. HSBC cut Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Finally, Hsbc Global Res cut Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.91.

Fastenal Profile

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.