Fastenal (NASDAQ:FAST) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its holdings in shares of Fastenal (NASDAQ:FAST) by 46.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,297 shares of the company’s stock after acquiring an additional 17,164 shares during the quarter. Mizuho Securities USA LLC’s holdings in Fastenal were worth $3,904,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Fastenal during the 4th quarter worth $46,000. Whipplewood Advisors LLC purchased a new stake in shares of Fastenal during the fourth quarter valued at $49,000. SBI Securities Co. Ltd. purchased a new stake in shares of Fastenal during the fourth quarter valued at $49,000. R Squared Ltd purchased a new stake in shares of Fastenal during the fourth quarter valued at $68,000. Finally, Eastern Bank lifted its holdings in shares of Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. 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. Jefferies Financial Group upped their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

Shares of FAST stock opened at $74.73 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The stock’s 50-day moving average is $75.08 and its two-hundred day moving average is $75.65. The firm has a market cap of $42.85 billion, a P/E ratio of 37.18, a PEG ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio 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.