Louisiana State Employees Retirement System Takes Position in Fastenal Company $FAST

Louisiana State Employees Retirement System bought a new position in Fastenal Company (NASDAQ:FAST) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 133,900 shares of the company’s stock, valued at approximately $6,213,000.

Several other large investors have also recently modified their holdings of FAST. Palladiem LLC purchased a new position in shares of Fastenal during the 4th quarter worth about $25,000. Elyxium Wealth LLC bought a new position in shares of Fastenal during the 4th quarter worth $25,000. MV Capital Management Inc. bought a new position in Fastenal during the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC purchased a new position in Fastenal during the third quarter valued at approximately $36,000. Finally, Field & Main Bank purchased a new stake in shares of Fastenal during the 4th quarter worth $30,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.4%

Fastenal stock opened at $47.10 on Friday. The company has a market capitalization of $54.07 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 2.99 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. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The firm has a 50 day moving average price of $45.06 and a 200 day moving average price of $44.62.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. Research analysts expect that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio is 84.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FAST. DA Davidson began coverage on Fastenal in a research report on Tuesday, June 16th. They set a “neutral” rating and a $46.00 target price on the stock. Barclays set a $46.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Robert W. Baird lowered their target price on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Benchmark restated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $49.57.

Fastenal Company Profile

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.