Fastenal (NASDAQ:FAST) is Tikehau Investment Management's 8th Largest Position

Tikehau Investment Management boosted its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,037 shares of the company's stock after buying an additional 4,924 shares during the period. Fastenal accounts for about 5.0% of Tikehau Investment Management's investment portfolio, making the stock its 8th biggest holding. Tikehau Investment Management's holdings in Fastenal were worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Fastenal during the fourth quarter valued at about $46,000. Whipplewood Advisors LLC acquired a new position in Fastenal during the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new position in Fastenal during the 4th quarter valued at approximately $49,000. R Squared Ltd purchased a new position in shares of Fastenal in the fourth quarter worth $68,000. Finally, Eastern Bank lifted its stake in shares of Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after buying an additional 802 shares during the period. Institutional investors own 81.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Finally, Wolfe Research upgraded shares of Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.91.

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Fastenal Price Performance

Shares of Fastenal stock traded up $4.85 during trading hours on Friday, reaching $80.64. The stock had a trading volume of 7,561,437 shares, compared to its average volume of 3,103,303. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $46.24 billion, a PE ratio of 40.12, a PEG ratio of 3.58 and a beta of 1.05. The stock's 50 day moving average is $75.56 and its 200 day moving average is $76.33.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 2.18%. Fastenal's dividend payout ratio is currently 87.56%.

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.