Vontobel Holding Ltd. increased its stake in Fastenal (NASDAQ:FAST) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,304 shares of the company’s stock after purchasing an additional 302 shares during the period. Vontobel Holding Ltd.’s holdings in Fastenal were worth $569,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Cypress Capital Management LLC WY bought a new position in Fastenal in the 1st quarter worth approximately $25,000. Childress Capital Advisors LLC bought a new position in Fastenal in the 4th quarter worth approximately $32,000. Graves Light Private Wealth Management Inc. bought a new position in Fastenal in the 4th quarter worth approximately $46,000. Creative Financial Designs Inc. ADV raised its position in Fastenal by 1,550.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 924 shares of the company’s stock worth $46,000 after purchasing an additional 868 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Fastenal by 97.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 973 shares of the company’s stock worth $48,000 after purchasing an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.
A number of research firms have commented on FAST. Morgan Stanley lifted their target price on shares of Fastenal from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 14th. Robert W. Baird lifted their target price on shares of Fastenal from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, April 14th. Finally, Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a report on Monday, April 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $48.56.
Shares of FAST stock opened at $52.68 on Friday. Fastenal has a 12-month low of $39.15 and a 12-month high of $54.32. The firm has a market cap of $30.26 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $52.18.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 12th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Fastenal had a net margin of 15.22% and a return on equity of 31.00%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 25th. Investors of record on Monday, April 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 23rd. This represents a $1.12 annualized dividend and a yield of 2.13%. Fastenal’s dividend payout ratio is currently 75.17%.
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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