Fastenal (NASDAQ:FAST) Stock Holdings Lifted by Korea Investment CORP

Korea Investment CORP boosted its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 67.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,474 shares of the company's stock after acquiring an additional 146,760 shares during the period. Korea Investment CORP owned about 0.06% of Fastenal worth $26,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its stake in Fastenal by 1.2% during the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company's stock worth $840,000 after purchasing an additional 142 shares during the last quarter. Cozad Asset Management Inc. raised its holdings in Fastenal by 5.5% during the fourth quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company's stock worth $215,000 after purchasing an additional 155 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company's stock worth $504,000 after buying an additional 164 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $147,000 after buying an additional 166 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Fastenal by 1.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company's stock worth $1,026,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

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Wall Street Analysts Forecast Growth

FAST has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. William Blair raised Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Finally, Hsbc Global Res lowered Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $76.91.

Fastenal Trading Up 0.3 %

Fastenal stock traded up $0.27 during midday trading on Wednesday, reaching $77.88. The stock had a trading volume of 468,427 shares, compared to its average volume of 3,053,018. The stock's 50-day simple moving average is $75.41 and its 200 day simple moving average is $76.09. The stock has a market capitalization of $44.66 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.46 EPS. Fastenal's quarterly revenue was up 3.7% compared to the same quarter last year. Analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost 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 is 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.