Values First Advisors Inc. Buys Shares of 6,689 Fastenal (NASDAQ:FAST)

Values First Advisors Inc. purchased a new position in shares of Fastenal (NASDAQ:FAST) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,689 shares of the company’s stock, valued at approximately $481,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after buying an additional 608,596 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Fastenal by 1,789.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock valued at $38,262,000 after buying an additional 507,364 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Fastenal by 59.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after buying an additional 345,537 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.9 %

Shares of FAST stock opened at $73.68 on Thursday. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.55 and a beta of 1.02. The company’s 50-day moving average price is $75.09 and its 200-day moving average price is $74.04. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. As a group, equities analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus lowered their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Finally, Wolfe Research increased their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.