Fastenal (NASDAQ:FAST) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in shares of Fastenal (NASDAQ:FAST) by 134.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,706 shares of the company’s stock after purchasing an additional 2,699 shares during the period. EverSource Wealth Advisors LLC’s holdings in Fastenal were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Knuff & Co LLC purchased a new stake in shares of Fastenal during the 3rd quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new stake in Fastenal in the fourth quarter valued at $46,000. Whipplewood Advisors LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $49,000. SBI Securities Co. Ltd. purchased a new position in shares of Fastenal during the 4th quarter worth $49,000. Finally, R Squared Ltd acquired a new stake in shares of Fastenal during the 4th quarter worth about $68,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FAST shares. Stifel Nicolaus lowered their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a report on Wednesday, December 11th. Finally, William Blair raised 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 given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.91.

Fastenal Trading Up 2.1 %

FAST opened at $75.26 on Friday. The business’s 50-day simple moving average is $74.74 and its 200-day simple moving average is $75.29. The company has a market cap of $43.16 billion, a P/E ratio of 37.44, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a one year low of $61.36 and a one year high of $84.88. 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 announced its quarterly earnings results 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 return on equity of 32.55% and a net margin of 15.25%. 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 prior year, the business earned $0.46 earnings per share. Fastenal’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a $0.43 dividend. 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 2.29%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend 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.