Krane Funds Advisors LLC Has $430,000 Position in Fastenal (NASDAQ:FAST)

Krane Funds Advisors LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,985 shares of the company’s stock after selling 243 shares during the quarter. Krane Funds Advisors LLC’s holdings in Fastenal were worth $430,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. HB Wealth Management LLC raised its stake in shares of 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 during the last quarter. Cozad Asset Management Inc. grew its holdings in Fastenal by 5.5% during the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock worth $215,000 after acquiring an additional 155 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after acquiring an additional 164 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after purchasing an additional 166 shares during the period. Finally, Resonant Capital Advisors LLC boosted its position in shares of Fastenal by 1.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock worth $1,026,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 4.6 %

Fastenal stock opened at $74.42 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The stock has a 50-day simple moving average of $75.48 and a 200 day simple moving average of $76.23. The stock has a market capitalization of $42.68 billion, a P/E ratio of 37.03, a PEG ratio of 3.58 and a beta of 1.04. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

Several equities analysts have weighed in on FAST shares. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.91.

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.