Fastenal (NASDAQ:FAST) Shares Bought by Redmond Asset Management LLC

Redmond Asset Management LLC increased its holdings in Fastenal (NASDAQ:FAST) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 55,983 shares of the company’s stock after purchasing an additional 677 shares during the quarter. Fastenal comprises about 1.0% of Redmond Asset Management LLC’s portfolio, making the stock its 26th biggest holding. Redmond Asset Management LLC’s holdings in Fastenal were worth $4,026,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. King Luther Capital Management Corp grew its holdings in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the period. HB Wealth Management LLC lifted its position in Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after buying an additional 142 shares in the last quarter. Catalina Capital Group LLC raised its holdings in shares of Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after acquiring an additional 146 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Fastenal by 1.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock worth $653,000 after purchasing an additional 165 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

Fastenal stock opened at $74.78 on Friday. The business has a 50 day simple moving average of $74.29 and a 200 day simple moving average of $74.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The company has a market capitalization of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business posted $0.46 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast 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, February 28th. Investors of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FAST shares. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, Wolfe Research upped their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average 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.