Fastenal Company $FAST Shares Purchased by Tobam

Tobam raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 6,427.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,539 shares of the company’s stock after purchasing an additional 21,209 shares during the period. Tobam’s holdings in Fastenal were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the 4th quarter valued at about $25,000. Palladiem LLC acquired a new stake in Fastenal during the fourth quarter worth about $25,000. MV Capital Management Inc. acquired a new stake in Fastenal during the fourth quarter worth about $29,000. Field & Main Bank bought a new position in Fastenal in the fourth quarter worth about $30,000. Finally, Tucker Asset Management LLC acquired a new position in Fastenal in the fourth quarter valued at approximately $33,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FAST. Sanford C. Bernstein reiterated an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research report on Tuesday, April 14th. Morgan Stanley restated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. JPMorgan Chase & Co. upped their price objective on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Finally, Raymond James Financial set a $48.00 target price on Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $49.57.

Fastenal Stock Performance

Shares of FAST stock opened at $45.91 on Friday. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. The business has a 50 day simple moving average of $45.08 and a 200 day simple moving average of $44.43.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were paid 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 was Tuesday, April 28th. Fastenal’s payout ratio is currently 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.