ETRADE Capital Management LLC purchased a new position in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,685 shares of the company’s stock, valued at approximately $310,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of FAST. Exane Derivatives acquired a new stake in shares of Fastenal during the 4th quarter worth about $110,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fastenal during the 4th quarter worth about $115,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Fastenal during the 3rd quarter worth about $114,000. Squar Milner Financial Services LLC acquired a new stake in shares of Fastenal during the 4th quarter worth about $202,000. Finally, AlphaStar Capital Management LLC acquired a new stake in shares of Fastenal during the 4th quarter worth about $201,000. Institutional investors and hedge funds own 85.00% of the company’s stock.
A number of brokerages recently issued reports on FAST. BMO Capital Markets reissued a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research report on Tuesday, January 9th. Northcoast Research set a $60.00 target price on Fastenal and gave the company a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, December 26th. Credit Suisse Group raised Fastenal to a “buy” rating and set a $61.00 target price for the company in a research report on Thursday, January 18th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Fastenal presently has an average rating of “Buy” and a consensus price target of $54.00.
Fastenal (NASDAQ FAST) opened at $57.76 on Wednesday. Fastenal has a 52-week low of $39.79 and a 52-week high of $58.46. The company has a market capitalization of $16,628.91, a PE ratio of 28.74, a PEG ratio of 1.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. research analysts predict that Fastenal will post 2.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.56%. Fastenal’s payout ratio is currently 73.63%.
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Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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