Gladstone Institutional Advisory LLC Boosts Holdings in Fastenal (NASDAQ:FAST)

Gladstone Institutional Advisory LLC boosted its stake in Fastenal (NASDAQ:FAST) by 24.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,819 shares of the company’s stock after acquiring an additional 3,292 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Fastenal were worth $1,209,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FAST. King Luther Capital Management Corp lifted its holdings in shares of Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after purchasing an additional 136 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after buying an additional 142 shares during the period. HB Wealth Management LLC lifted its stake in Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after buying an additional 142 shares during the last quarter. Compass Ion Advisors LLC boosted its holdings in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after acquiring an additional 146 shares during the period. Finally, Catalina Capital Group LLC grew its position in shares of Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FAST. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two equities research 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, Fastenal has an average rating of “Hold” and an average target price of $76.91.

Fastenal Stock Up 1.5 %

Fastenal stock opened at $74.79 on Friday. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The stock’s 50 day moving average price is $74.92 and its 200 day moving average price is $74.04. The company has a market cap of $42.85 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a $0.43 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Fastenal 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.