Invesco Ltd. grew its stake in Fastenal (NASDAQ:FAST - Free Report) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,628,282 shares of the company's stock after acquiring an additional 33,718 shares during the quarter. Invesco Ltd. owned about 1.16% of Fastenal worth $476,640,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Polymer Capital Management US LLC acquired a new position in shares of Fastenal during the fourth quarter valued at about $433,000. Unigestion Holding SA acquired a new position in Fastenal in the fourth quarter valued at approximately $467,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Fastenal in the 4th quarter valued at $662,000. Quadrant Capital Group LLC boosted its stake in shares of Fastenal by 2.8% during the 4th quarter. Quadrant Capital Group LLC now owns 6,859 shares of the company's stock worth $493,000 after acquiring an additional 184 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in Fastenal during the fourth quarter worth approximately $16,648,000. Hedge funds and other institutional investors own 81.38% of the company's stock.
Fastenal Stock Up 1.1 %
Fastenal stock traded up $0.86 during trading on Monday, reaching $81.50. The stock had a trading volume of 1,663,877 shares, compared to its average volume of 3,086,380. The stock has a market cap of $46.74 billion, a PE ratio of 40.55, a P/E/G ratio of 3.58 and a beta of 1.05. The business has a 50 day moving average price of $75.56 and a 200 day moving average price of $76.37. 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.
Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.52 EPS. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Fastenal will post 2.15 EPS for the current year.
Fastenal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be given a dividend of $0.44 per share. This is a boost from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date is Friday, April 25th. This represents a $1.76 annualized dividend and a yield of 2.16%. Fastenal's payout ratio is presently 87.56%.
Wall Street Analyst Weigh In
FAST has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Fastenal from $80.00 to $86.00 and gave the company a "neutral" rating in a report on Monday. Wolfe Research raised Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus reduced their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.45.
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About Fastenal
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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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