Pittenger & Anderson Inc. Boosts Stake in Fastenal (NASDAQ:FAST)

Pittenger & Anderson Inc. raised its holdings in Fastenal (NASDAQ:FAST - Free Report) by 1,173.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,050 shares of the company's stock after purchasing an additional 5,575 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Fastenal were worth $435,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. KLCM Advisors Inc. raised its position in shares of Fastenal by 1.8% during the 4th quarter. KLCM Advisors Inc. now owns 17,140 shares of the company's stock worth $1,233,000 after purchasing an additional 300 shares during the last quarter. Principal Securities Inc. raised its position in shares of Fastenal by 6.0% during the 4th quarter. Principal Securities Inc. now owns 15,746 shares of the company's stock worth $1,132,000 after purchasing an additional 896 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its position in shares of Fastenal by 4.2% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,430 shares of the company's stock worth $462,000 after purchasing an additional 259 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in Fastenal by 16.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 10,342 shares of the company's stock valued at $744,000 after acquiring an additional 1,463 shares during the last quarter. Finally, Pictet North America Advisors SA raised its holdings in Fastenal by 2.4% in the 4th quarter. Pictet North America Advisors SA now owns 77,419 shares of the company's stock valued at $5,567,000 after acquiring an additional 1,829 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FAST has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, December 6th. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Wolfe Research increased their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $76.91.

Fastenal Price Performance

FAST stock traded down $0.36 during midday trading on Friday, hitting $74.78. 3,347,592 shares of the stock were exchanged, compared to its average volume of 3,008,088. The stock's 50-day moving average price is $74.29 and its 200-day moving average price is $74.24. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.60 and a beta of 1.02. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. 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 (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share. Research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is currently 85.57%.

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.