Rockefeller Capital Management L.P. Purchases 4,012 Shares of Fastenal (NASDAQ:FAST)

Rockefeller Capital Management L.P. raised its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,159 shares of the company's stock after acquiring an additional 4,012 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Fastenal were worth $6,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Fastenal by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 72,300,792 shares of the company's stock worth $5,199,150,000 after purchasing an additional 592,583 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company's stock worth $1,493,214,000 after buying an additional 886,999 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fastenal by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 16,918,464 shares of the company's stock valued at $1,214,002,000 after buying an additional 234,713 shares during the period. Norges Bank purchased a new position in Fastenal during the fourth quarter worth about $522,558,000. Finally, Invesco Ltd. raised its holdings in shares of Fastenal by 0.5% in the 4th quarter. Invesco Ltd. now owns 6,628,282 shares of the company's stock valued at $476,640,000 after acquiring an additional 33,718 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Activity

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the completion of the sale, the executive vice president now owns 5,997 shares in the company, valued at approximately $487,616.07. This represents a 71.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company's stock.

Fastenal Stock Up 1.1 %

Shares of FAST stock traded up $0.86 during mid-day trading on Tuesday, hitting $81.15. The company's stock had a trading volume of 1,394,201 shares, compared to its average volume of 3,081,343. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The business has a 50-day moving average price of $76.42 and a 200 day moving average price of $76.79. The stock has a market cap of $46.54 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 3.58 and a beta of 1.05. 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 earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Research analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Fastenal's previous quarterly dividend of $0.43. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent analyst reports. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stephens upped their target price on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 15th. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Robert W. Baird boosted their target price on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $79.10.

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.