Pinnacle Financial Partners Inc Boosts Stake in Fastenal (NASDAQ:FAST)

Pinnacle Financial Partners Inc boosted its stake in Fastenal (NASDAQ:FAST) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,505 shares of the company’s stock after buying an additional 937 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Fastenal were worth $9,528,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the third quarter worth $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal during the third quarter worth $27,000. First Personal Financial Services acquired a new stake in shares of Fastenal during the third quarter worth $36,000. MCF Advisors LLC boosted its holdings in shares of Fastenal by 54.1% during the third quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Fastenal during the fourth quarter worth $68,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.5 %

NASDAQ:FAST opened at $74.78 on Friday. The business’s 50-day moving average is $74.22 and its two-hundred day moving average is $74.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The firm has a market capitalization of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

FAST has been the topic of several analyst reports. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research report on Wednesday, December 11th. Wolfe Research increased their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group increased their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal 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.