Louisiana State Employees Retirement System decreased its position in shares of Fastenal (NASDAQ:FAST – Get Rating) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,500 shares of the company’s stock after selling 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Fastenal were worth $3,100,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Fastenal by 82.6% in the 3rd quarter. Royal Bank of Canada now owns 5,437,480 shares of the company’s stock valued at $250,340,000 after purchasing an additional 2,460,307 shares during the last quarter. Marshall Wace LLP grew its position in Fastenal by 1,298.1% in the third quarter. Marshall Wace LLP now owns 1,663,643 shares of the company’s stock valued at $76,592,000 after acquiring an additional 1,544,650 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Fastenal during the second quarter worth about $53,751,000. Bank of Montreal Can lifted its holdings in shares of Fastenal by 31.0% in the third quarter. Bank of Montreal Can now owns 3,181,569 shares of the company’s stock worth $152,525,000 after acquiring an additional 753,698 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fastenal by 8.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,227,656 shares of the company’s stock valued at $548,123,000 after purchasing an additional 681,328 shares in the last quarter. 76.99% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
FAST has been the subject of several research reports. StockNews.com raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, March 28th. Loop Capital reduced their price objective on Fastenal from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, January 23rd. Finally, Morgan Stanley dropped their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.14.
Insider Transactions at Fastenal
Fastenal Trading Up 2.1 %
NASDAQ:FAST opened at $53.94 on Monday. Fastenal has a 52 week low of $43.73 and a 52 week high of $60.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 3.96. The firm’s fifty day moving average is $52.16 and its 200-day moving average is $49.84. The firm has a market cap of $30.80 billion, a P/E ratio of 28.39, a P/E/G ratio of 3.09 and a beta of 1.19.
Fastenal (NASDAQ:FAST – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Fastenal had a return on equity of 34.38% and a net margin of 15.57%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Equities analysts expect that Fastenal will post 1.94 earnings per share for the current year.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Fastenal’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, February 1st. Fastenal’s dividend payout ratio is presently 73.68%.
Fastenal Company Profile
Fastenal Co engages in the distribution of fasteners and tools. It also operates hardware stores. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.
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