Nomura Asset Management Co. Ltd. cut its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 775,692 shares of the company's stock after selling 26,712 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.14% of Fastenal worth $55,780,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Fastenal during the fourth quarter valued at $1,959,000. Norges Bank acquired a new stake in Fastenal in the 4th quarter valued at approximately $522,558,000. Caisse Des Depots ET Consignations acquired a new stake in Fastenal in the 4th quarter valued at approximately $4,290,000. NEOS Investment Management LLC raised its stake in Fastenal by 52.4% during the 4th quarter. NEOS Investment Management LLC now owns 155,958 shares of the company's stock valued at $11,215,000 after acquiring an additional 53,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in Fastenal by 5.2% during the 4th quarter. UniSuper Management Pty Ltd now owns 154,146 shares of the company's stock worth $11,085,000 after acquiring an additional 7,662 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.
Fastenal Stock Performance
Shares of FAST traded up $1.38 on Monday, reaching $77.55. 4,356,166 shares of the stock traded hands, compared to its average volume of 3,064,845. The stock's 50-day moving average price is $75.35 and its 200-day moving average price is $75.98. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The firm has a market cap of $44.47 billion, a price-to-earnings ratio of 38.58, 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 (NASDAQ:FAST - Get Free Report) last announced 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). The firm had revenue of $1.82 billion for 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 company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. Equities analysts forecast that Fastenal will post 2.15 EPS for the current fiscal 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 yield of 2.22%. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is currently 85.57%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on FAST shares. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stifel Nicolaus decreased their price target 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. Hsbc Global Res lowered Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Finally, 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 report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $76.91.
Read Our Latest Report on FAST
About Fastenal
(
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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