Fastenal (NASDAQ:FAST) Stake Lifted by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its stake in Fastenal (NASDAQ:FAST) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 7,008 shares of the company’s stock after acquiring an additional 164 shares during the period. Checchi Capital Advisers LLC’s holdings in Fastenal were worth $504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $27,000. First Personal Financial Services bought a new position in shares of Fastenal in the third quarter valued at approximately $36,000. R Squared Ltd acquired a new stake in Fastenal during the fourth quarter valued at approximately $68,000. Finally, Eastern Bank lifted its stake in Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after purchasing an additional 802 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 1.0 %

FAST stock opened at $73.89 on Thursday. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a market cap of $42.37 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 3.58 and a beta of 1.02. The company has a 50 day moving average of $74.07 and a two-hundred day moving average of $74.54.

Fastenal (NASDAQ:FAST) last released its 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 company 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 earned $0.46 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

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

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent research reports. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. Jefferies Financial Group increased their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus cut 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 Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, UBS Group initiated coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.