Greykasell Wealth Strategies Inc. Acquires New Holdings in Fastenal (NASDAQ:FAST)

Greykasell Wealth Strategies Inc. purchased a new position in Fastenal (NASDAQ:FAST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,241 shares of the company's stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FAST. Assetmark Inc. raised its position in shares of Fastenal by 20.4% in the 3rd quarter. Assetmark Inc. now owns 4,307 shares of the company's stock valued at $308,000 after purchasing an additional 731 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal in the third quarter worth $25,000. Harbour Investments Inc. raised its holdings in Fastenal by 9.7% in the third quarter. Harbour Investments Inc. now owns 13,980 shares of the company's stock valued at $998,000 after acquiring an additional 1,231 shares in the last quarter. Curi RMB Capital LLC raised its holdings in Fastenal by 3.0% in the third quarter. Curi RMB Capital LLC now owns 34,375 shares of the company's stock valued at $2,455,000 after acquiring an additional 990 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in Fastenal by 5.6% during the 3rd quarter. Metis Global Partners LLC now owns 29,243 shares of the company's stock valued at $2,089,000 after acquiring an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

FAST stock traded down $0.17 during mid-day trading on Tuesday, reaching $75.90. The company had a trading volume of 788,615 shares, compared to its average volume of 2,909,871. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market capitalization of $43.52 billion, a P/E ratio of 37.75, a P/E/G ratio of 3.58 and a beta of 1.05. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock's 50-day simple moving average is $74.82 and its two-hundred day simple moving average is $75.41.

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Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. 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. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. Fastenal's payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent analyst reports. Hsbc Global Res lowered shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Wolfe Research lifted their target price 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 upgraded Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Finally, Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.