UniSuper Management Pty Ltd Grows Stake in Fastenal (NASDAQ:FAST)

UniSuper Management Pty Ltd raised its holdings in Fastenal (NASDAQ:FAST - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,146 shares of the company's stock after buying an additional 7,662 shares during the period. UniSuper Management Pty Ltd's holdings in Fastenal were worth $11,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Fastenal in the fourth quarter worth $101,183,000. State Street Corp increased its holdings in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares during the period. 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 raised its holdings in shares of Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after acquiring an additional 880,372 shares in the last quarter. Finally, Donaldson Capital Management LLC bought a new stake in Fastenal during the fourth quarter valued at approximately $44,836,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

NASDAQ FAST traded up $1.31 on Monday, reaching $77.48. 1,495,549 shares of the company's stock traded hands, compared to its average volume of 3,234,951. The stock has a 50 day moving average price of $75.35 and a 200-day moving average price of $75.98. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

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Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results 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). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business earned $0.46 EPS. The business's revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio (DPR) is 85.57%.

Analyst Ratings Changes

Several brokerages have issued reports on FAST. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Stifel Nicolaus cut their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Hsbc Global Res downgraded shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, December 11th. Finally, HSBC cut Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $76.91.

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.