Certuity LLC Has $737,000 Stock Holdings in Fastenal (NASDAQ:FAST)

Certuity LLC lifted its position in shares of Fastenal (NASDAQ:FAST) by 23.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,251 shares of the company’s stock after buying an additional 1,966 shares during the quarter. Certuity LLC’s holdings in Fastenal were worth $737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FAST. King Luther Capital Management Corp grew its holdings in shares of 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 purchasing an additional 136 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the period. HB Wealth Management LLC grew its holdings in Fastenal by 1.2% during the fourth 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. Thurston Springer Miller Herd & Titak Inc. grew its stake in Fastenal by 5.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after purchasing an additional 143 shares during the period. Finally, Compass Ion Advisors LLC grew its stake in Fastenal by 1.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Stifel Nicolaus cut their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Stock Performance

Shares of FAST stock opened at $74.33 on Wednesday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.55 and a beta of 1.02. The stock’s 50-day moving average is $75.26 and its two-hundred day moving average is $74.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

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). 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 analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Fastenal’s revenue was up 3.7% on a year-over-year basis. Analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced 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 is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.31%. Fastenal’s payout ratio is presently 85.57%.

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.