12,140 Shares in Fastenal (NASDAQ:FAST) Bought by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC bought a new position in Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,140 shares of the company’s stock, valued at approximately $873,000. Fastenal accounts for about 0.7% of Sound Financial Strategies Group LLC’s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Fastenal in the 3rd quarter worth approximately $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $27,000. First Personal Financial Services acquired a new position in Fastenal in the 3rd quarter valued at $36,000. Whipplewood Advisors LLC acquired a new position in Fastenal in the 4th quarter valued at $49,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Fastenal in the 4th quarter valued at $49,000. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Wolfe Research raised their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

FAST opened at $74.23 on Wednesday. The firm has a market cap of $42.57 billion, a PE ratio of 36.93, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $74.07 and a 200-day simple moving average of $74.83. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last announced 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 analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Fastenal’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is currently 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.