Whipplewood Advisors LLC Invests $49,000 in Fastenal (NASDAQ:FAST)

Whipplewood Advisors LLC bought a new position in Fastenal (NASDAQ:FAST) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 677 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after purchasing an additional 608,596 shares during the period. Geode Capital Management LLC raised its holdings in Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after purchasing an additional 880,372 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after purchasing an additional 226,126 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after purchasing an additional 165,423 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Trading Up 2.2 %

Shares of FAST stock opened at $75.73 on Friday. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The stock’s 50-day moving average price is $74.09 and its 200-day moving average price is $74.61. The stock has a market capitalization of $43.43 billion, a price-to-earnings ratio of 37.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

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

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent research reports. Wolfe Research raised their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Jefferies Financial Group raised their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.91.

About Fastenal

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.