Lake Street Advisors Group LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,770 shares of the company’s stock, valued at approximately $370,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in Fastenal in the fourth quarter valued at $104,000. Exane Derivatives bought a new stake in Fastenal in the fourth quarter valued at $110,000. SeaCrest Wealth Management LLC bought a new stake in Fastenal in the fourth quarter valued at $115,000. Fuller & Thaler Asset Management Inc. bought a new stake in Fastenal in the third quarter valued at $114,000. Finally, Squar Milner Financial Services LLC bought a new stake in Fastenal in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.
A number of equities research analysts have issued reports on FAST shares. Robert W. Baird reiterated a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Goldman Sachs started coverage on Fastenal in a research note on Sunday. They issued a “sell” rating and a $49.00 target price on the stock. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group upgraded Fastenal to a “buy” rating and set a $61.00 target price on the stock in a research note on Thursday, January 18th. Finally, Stephens raised their target price on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Fastenal presently has a consensus rating of “Buy” and an average target price of $53.67.
Shares of Fastenal stock opened at $56.82 on Thursday. Fastenal has a one year low of $39.79 and a one year high of $58.74. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $16,200.31, a PE ratio of 28.27, a P/E/G ratio of 1.60 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. research analysts predict that Fastenal will post 2.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st were paid a dividend of $0.37 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Tuesday, January 30th. Fastenal’s payout ratio is currently 73.63%.
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Fastenal Company Profile
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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