Fastenal Company $FAST Shares Purchased by Okabena Investment Services Inc.

Okabena Investment Services Inc. boosted its position in Fastenal Company (NASDAQ:FAST) by 72.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,734 shares of the company’s stock after acquiring an additional 18,812 shares during the quarter. Okabena Investment Services Inc.’s holdings in Fastenal were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Fastenal during the fourth quarter worth about $496,000. Integrated Wealth Concepts LLC lifted its stake in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Fastenal during the second quarter worth about $158,000. Jump Financial LLC acquired a new position in shares of Fastenal during the second quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC lifted its stake in shares of Fastenal by 111.0% during the second quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after purchasing an additional 1,771 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 have commented on FAST shares. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Wolfe Research reduced their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Finally, Robert W. Baird reduced their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $49.57.

Fastenal Stock Down 1.0%

Shares of NASDAQ FAST opened at $46.10 on Tuesday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The stock’s 50-day simple moving average is $45.15 and its 200-day simple moving average is $44.31.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.