CIBC Asset Management Inc Buys 4,671 Shares of Fastenal (NASDAQ:FAST)

CIBC Asset Management Inc raised its holdings in Fastenal (NASDAQ:FAST - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,109 shares of the company's stock after purchasing an additional 4,671 shares during the period. CIBC Asset Management Inc's holdings in Fastenal were worth $14,318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pittenger & Anderson Inc. raised its holdings in Fastenal by 1,173.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,050 shares of the company's stock valued at $435,000 after acquiring an additional 5,575 shares during the period. KLCM Advisors Inc. boosted its holdings in shares of Fastenal by 1.8% in the fourth quarter. KLCM Advisors Inc. now owns 17,140 shares of the company's stock worth $1,233,000 after acquiring an additional 300 shares during the period. Principal Securities Inc. grew its position in shares of Fastenal by 6.0% in the fourth quarter. Principal Securities Inc. now owns 15,746 shares of the company's stock valued at $1,132,000 after purchasing an additional 896 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in shares of Fastenal by 4.2% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,430 shares of the company's stock valued at $462,000 after purchasing an additional 259 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in Fastenal by 16.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 10,342 shares of the company's stock worth $744,000 after purchasing an additional 1,463 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Price Performance

Shares of Fastenal stock traded down $0.36 during trading on Friday, hitting $74.78. 3,347,592 shares of the stock traded hands, compared to its average volume of 3,008,088. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.60 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The firm's fifty day moving average is $74.29 and its 200-day moving average is $74.24.

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 analysts' consensus estimates of $0.48 by ($0.02). The business had revenue of $1.82 billion for 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 firm's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. This is a positive change from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. HSBC cut shares of 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. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price objective for the company. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Wolfe Research lifted their price target on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.