Fastenal (NASDAQ:FAST) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,846 shares of the company’s stock after acquiring an additional 318 shares during the period. Frank Rimerman Advisors LLC’s holdings in Fastenal were worth $1,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FAST. Knuff & Co LLC acquired a new position in Fastenal in the third quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in shares of Fastenal in the 4th quarter valued at about $46,000. Whipplewood Advisors LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at about $49,000. SBI Securities Co. Ltd. purchased a new position in Fastenal during the 4th quarter worth approximately $49,000. Finally, R Squared Ltd acquired a new position in Fastenal during the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of several research analyst reports. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. 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. Finally, Jefferies Financial Group boosted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Trading Up 2.1 %

Shares of Fastenal stock opened at $75.26 on Friday. The company has a 50-day moving average of $74.74 and a two-hundred day moving average of $75.29. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a market cap of $43.16 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

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

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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. This represents a $1.72 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is 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.