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Several other large investors have also added to or reduced their stakes in the company. Heron Financial Group LLC grew its holdings in Fastenal by 2.1% in the 1st quarter. Heron Financial Group LLC now owns 10,294 shares of the company’s stock valued at $526,000 after buying an additional 210 shares in the last quarter. Intersect Capital LLC grew its holdings in shares of Fastenal by 2.2% during the 1st quarter. Intersect Capital LLC now owns 9,589 shares of the company’s stock worth $482,000 after purchasing an additional 211 shares during the period. Fulcrum Equity Management grew its holdings in shares of Fastenal by 3.9% during the 1st quarter. Fulcrum Equity Management now owns 5,933 shares of the company’s stock worth $298,000 after purchasing an additional 225 shares during the period. ICW Investment Advisors LLC grew its holdings in shares of Fastenal by 0.8% during the 1st quarter. ICW Investment Advisors LLC now owns 29,917 shares of the company’s stock worth $1,504,000 after purchasing an additional 231 shares during the period. Finally, Advisor Partners LLC grew its holdings in shares of Fastenal by 1.9% during the 4th quarter. Advisor Partners LLC now owns 13,335 shares of the company’s stock worth $651,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Robert W. Baird increased their price target on Fastenal from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, April 14th. Zacks Investment Research cut Fastenal from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a report on Monday, April 5th. Finally, Morgan Stanley cut Fastenal from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $53.00 to $48.00 in a report on Tuesday, June 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.00.
FAST stock opened at $50.71 on Monday. The company has a quick ratio of 1.98, a current ratio of 3.95 and a debt-to-equity ratio of 0.13. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 3.76 and a beta of 1.27. The firm has a 50-day moving average of $52.27. Fastenal has a 1 year low of $40.44 and a 1 year high of $54.32.
Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 12th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Fastenal had a return on equity of 31.00% and a net margin of 15.22%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $0.35 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Fastenal will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 25th. Investors of record on Monday, April 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 23rd. This represents a $1.12 dividend on an annualized basis and a yield of 2.21%. Fastenal’s dividend payout ratio is presently 75.17%.
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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