NEOS Investment Management LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 52.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,958 shares of the company's stock after purchasing an additional 53,622 shares during the period. NEOS Investment Management LLC's holdings in Fastenal were worth $11,215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Fastenal during the fourth quarter worth approximately $101,183,000. State Street Corp boosted its position in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company's stock worth $1,493,214,000 after purchasing an additional 886,999 shares during the period. Geode Capital Management LLC increased its holdings in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the last quarter. Finally, Donaldson Capital Management LLC acquired a new position in Fastenal in the fourth quarter valued at about $44,836,000. Institutional investors and hedge funds own 81.38% of the company's stock.
Fastenal Trading Up 0.9 %
Shares of NASDAQ:FAST traded up $0.67 during midday trading on Monday, hitting $76.84. 977,730 shares of the stock were exchanged, compared to its average volume of 3,225,693. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The business's 50-day moving average price is $75.35 and its 200 day moving average price is $75.98. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 3.58 and a beta of 1.05.
Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Analysts predict that Fastenal will post 2.15 earnings per share for the current year.
Fastenal Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a $0.43 dividend. This is a positive change from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, January 31st. Fastenal's dividend payout ratio is currently 85.57%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on FAST. Wolfe Research lifted their target price on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Stifel Nicolaus decreased their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Hsbc Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Finally, William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $76.91.
Read Our Latest Research Report on FAST
Fastenal Profile
(
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.
Featured Stories
Before you consider Fastenal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fastenal wasn't on the list.
While Fastenal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
