RD Lewis Holdings Inc. Makes New Investment in Fastenal (NASDAQ:FAST)

RD Lewis Holdings Inc. acquired a new stake in shares of Fastenal (NASDAQ:FAST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,350 shares of the company's stock, valued at approximately $764,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Sound Financial Strategies Group LLC bought a new stake in Fastenal in the fourth quarter worth $873,000. PNC Financial Services Group Inc. increased its position in Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company's stock worth $26,373,000 after purchasing an additional 6,488 shares during the last quarter. Matrix Trust Co bought a new stake in Fastenal in the fourth quarter worth $1,756,000. Franklin Resources Inc. increased its position in Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after purchasing an additional 165,423 shares during the last quarter. Finally, Czech National Bank increased its position in Fastenal by 6.5% in the fourth quarter. Czech National Bank now owns 124,213 shares of the company's stock worth $8,932,000 after purchasing an additional 7,559 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Analysts Set New Price Targets

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

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Fastenal Stock Down 1.0 %

Shares of FAST stock traded down $0.78 on Friday, hitting $74.73. The stock had a trading volume of 8,781,375 shares, compared to its average volume of 2,923,942. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $75.08 and a 200 day moving average price of $75.52. The company has a market cap of $42.85 billion, a PE ratio of 37.18, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. Fastenal's payout ratio is currently 85.57%.

About Fastenal

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.