Cibc World Markets Corp Buys 12,861 Shares of Fastenal (NASDAQ:FAST)

Cibc World Markets Corp boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 103,083 shares of the company’s stock after buying an additional 12,861 shares during the period. Cibc World Markets Corp’s holdings in Fastenal were worth $7,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. King Luther Capital Management Corp raised its stake in Fastenal by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares in the last quarter. HB Wealth Management LLC increased its position in Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after purchasing an additional 142 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Fastenal by 2.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after purchasing an additional 164 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after purchasing an additional 166 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in Fastenal by 1.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock valued at $1,026,000 after buying an additional 177 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

NASDAQ:FAST opened at $76.09 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company has a fifty day moving average of $74.90 and a 200-day moving average of $75.46. The firm has a market capitalization of $43.63 billion, a P/E ratio of 37.86, a P/E/G ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. Fastenal’s payout ratio is currently 85.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus reduced their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.91.

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.