Greykasell Wealth Strategies Inc. acquired a new stake 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 and Exchange Commission (SEC). The institutional investor acquired 11,241 shares of the company's stock, valued at approximately $808,000.
Several other institutional investors have also added to or reduced their stakes in the business. King Luther Capital Management Corp lifted its position in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company's stock valued at $619,000 after purchasing an additional 136 shares during the last quarter. HB Wealth Management LLC increased its position in Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company's stock valued at $840,000 after purchasing an additional 142 shares during the period. Checchi Capital Advisers LLC increased its position in Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company's stock valued at $504,000 after purchasing an additional 164 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company's stock worth $147,000 after buying an additional 166 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Fastenal by 1.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company's stock worth $1,026,000 after buying an additional 177 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on FAST shares. HSBC cut shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Stifel Nicolaus dropped their target price 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. William Blair raised Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Hsbc Global Res cut Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Finally, Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Two investment 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $76.91.
Check Out Our Latest Research Report on FAST
Fastenal Stock Performance
Shares of NASDAQ FAST traded up $0.37 during midday trading on Wednesday, hitting $76.46. 2,573,285 shares of the company's stock were exchanged, compared to its average volume of 2,914,154. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a market cap of $43.85 billion, a P/E ratio of 38.04, a PEG ratio of 3.58 and a beta of 1.05. The stock's 50 day moving average price is $74.90 and its 200-day moving average price is $75.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28.
Fastenal (NASDAQ:FAST - Get Free Report) last posted 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 company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $0.46 EPS. Fastenal's quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.
Fastenal Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.25%. Fastenal's dividend payout ratio is currently 85.57%.
Fastenal Company Profile
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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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