4,100 Shares in Fastenal (NASDAQ:FAST) Bought by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC bought a new stake in Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,100 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of Fastenal during the fourth quarter worth $966,000. Geode Capital Management LLC grew its position in Fastenal by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 16,918,464 shares of the company’s stock worth $1,214,002,000 after acquiring an additional 234,713 shares during the last quarter. Roundview Capital LLC increased its holdings in Fastenal by 1.4% in the 4th quarter. Roundview Capital LLC now owns 113,969 shares of the company’s stock worth $8,196,000 after purchasing an additional 1,622 shares in the last quarter. Meeder Asset Management Inc. raised its position in Fastenal by 0.8% in the fourth quarter. Meeder Asset Management Inc. now owns 27,375 shares of the company’s stock valued at $1,969,000 after purchasing an additional 220 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Fastenal by 301.9% during the fourth quarter. Wellington Management Group LLP now owns 1,478,233 shares of the company’s stock valued at $106,300,000 after purchasing an additional 1,110,445 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FAST shares. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Wolfe Research lifted 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. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $76.91.

Fastenal Stock Up 0.5 %

Shares of Fastenal stock opened at $78.01 on Thursday. The stock’s 50-day moving average is $75.46 and its 200 day moving average is $76.11. Fastenal has a one year low of $61.36 and a one year high of $84.88. The firm has a market cap of $44.73 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 3.58 and a beta of 1.04. 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 (NASDAQ:FAST) last posted its quarterly earnings results 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). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s payout ratio is presently 85.57%.

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.