Greykasell Wealth Strategies Inc. Takes $808,000 Position in Fastenal (NASDAQ:FAST)

Greykasell Wealth Strategies Inc. acquired a new position in shares of Fastenal (NASDAQ:FAST - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,241 shares of the company's stock, valued at approximately $808,000.

A number of other large investors have also made changes to their positions in FAST. Ashton Thomas Securities LLC bought a new position in Fastenal during the third quarter valued at about $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal during the 3rd quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $49,000. Finally, SBI Securities Co. Ltd. bought a new position in Fastenal in the fourth quarter worth $49,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FAST shares. Hsbc Global Res lowered shares of Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Jefferies Financial Group increased 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. William Blair raised Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Finally, Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $76.91.

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Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.02 during midday trading on Tuesday, reaching $76.09. The company's stock had a trading volume of 2,816,094 shares, compared to its average volume of 2,915,520. The business's fifty day simple moving average is $74.90 and its 200-day simple moving average is $75.46. The company has a market capitalization of $43.63 billion, a P/E ratio of 37.86, a P/E/G ratio of 3.58 and a beta of 1.05. 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 has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results 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). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. 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 firm posted $0.46 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. This is a positive change 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 presently 85.57%.

Fastenal Company 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.