Commonwealth Retirement Investments LLC Buys 222 Shares of Fastenal (NASDAQ:FAST)

Commonwealth Retirement Investments LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,457 shares of the company’s stock after buying an additional 222 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Fastenal were worth $1,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWS Financial Advisors LLC lifted its holdings in shares of Fastenal by 29.6% during the 4th quarter. CWS Financial Advisors LLC now owns 7,283 shares of the company’s stock valued at $524,000 after buying an additional 1,664 shares during the period. BankPlus Trust Department bought a new position in shares of Fastenal during the 4th quarter valued at $1,933,000. Crestwood Advisors Group LLC lifted its holdings in shares of Fastenal by 8.9% during the 4th quarter. Crestwood Advisors Group LLC now owns 6,608 shares of the company’s stock valued at $475,000 after buying an additional 540 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Fastenal during the 4th quarter valued at $5,995,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Fastenal during the 4th quarter valued at $832,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

Shares of FAST stock opened at $74.78 on Tuesday. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm has a market capitalization of $42.88 billion, a PE ratio of 37.20, a PEG ratio of 3.58 and a beta of 1.02. The stock has a fifty day simple moving average of $74.15 and a two-hundred day simple moving average of $74.49.

Fastenal (NASDAQ:FAST) last issued 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 return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

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

Analyst Upgrades and Downgrades

FAST has been the topic of several research analyst reports. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Jefferies Financial Group increased 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. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.