Parallel Advisors LLC raised its stake in Fastenal (NASDAQ:FAST – Get Rating) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,385 shares of the company’s stock after acquiring an additional 471 shares during the quarter. Parallel Advisors LLC’s holdings in Fastenal were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of FAST. Old North State Trust LLC acquired a new stake in shares of Fastenal during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd grew its position in shares of Fastenal by 617.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the company’s stock worth $38,000 after buying an additional 691 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $39,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Fastenal during the 3rd quarter worth approximately $42,000. Finally, Arcus Capital Partners LLC acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 76.99% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on FAST shares. Stifel Nicolaus started coverage on shares of Fastenal in a research report on Monday, April 3rd. They set a “buy” rating and a $61.00 price target for the company. Morgan Stanley lifted their price objective on shares of Fastenal from $42.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 5th. StockNews.com raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, April 21st. Loop Capital reduced their price objective on shares of Fastenal from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, January 23rd. Finally, Robert W. Baird lifted their price objective on shares of Fastenal from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.14.
Insider Activity
Fastenal Stock Performance
Shares of FAST opened at $53.84 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 3.66. Fastenal has a twelve month low of $43.73 and a twelve month high of $57.51. The firm’s 50 day moving average price is $52.67 and its two-hundred day moving average price is $50.62. The firm has a market cap of $30.74 billion, a P/E ratio of 27.61, a PEG ratio of 3.05 and a beta of 1.19.
Fastenal (NASDAQ:FAST – Get Rating) last announced its quarterly earnings results on Thursday, April 13th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Fastenal had a net margin of 15.59% and a return on equity of 34.83%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Fastenal will post 1.96 EPS for the current fiscal year.
Fastenal Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, April 27th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, April 26th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.60%. Fastenal’s dividend payout ratio (DPR) is presently 71.79%.
Fastenal 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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