OFI Invest Asset Management Purchases Shares of 669 Fastenal (NASDAQ:FAST)

OFI Invest Asset Management purchased a new stake in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 669 shares of the company’s stock, valued at approximately $46,000.

Several other hedge funds have also bought and sold shares of the stock. Amundi grew its holdings in Fastenal by 17.6% during the fourth quarter. Amundi now owns 1,931,502 shares of the company’s stock valued at $140,480,000 after purchasing an additional 288,964 shares during the period. AMF Tjanstepension AB grew its holdings in Fastenal by 79.9% during the fourth quarter. AMF Tjanstepension AB now owns 343,047 shares of the company’s stock valued at $24,680,000 after purchasing an additional 152,390 shares during the period. PNC Financial Services Group Inc. grew its holdings in Fastenal by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 411,597 shares of the company’s stock valued at $29,598,000 after purchasing an additional 42,330 shares during the period. Haven Private LLC bought a new stake in Fastenal during the fourth quarter valued at about $411,000. Finally, E Fund Management Co. Ltd. grew its holdings in Fastenal by 33.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 8,235 shares of the company’s stock valued at $592,000 after purchasing an additional 2,047 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST opened at $79.80 on Tuesday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $45.76 billion, a P/E ratio of 39.70, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The business’s 50-day moving average is $74.43 and its 200 day moving average is $75.13.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 32.55% and a net margin of 15.25%. Fastenal’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.16%. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

Several research firms have issued reports on FAST. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.91.

About Fastenal

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.