Fastenal (NASDAQ:FAST) Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,381 shares of the company’s stock after purchasing an additional 328 shares during the period. TD Private Client Wealth LLC’s holdings in Fastenal were worth $99,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock worth $1,493,214,000 after purchasing an additional 886,999 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the last quarter. Cantillon Capital Management LLC boosted its position in shares of Fastenal by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 4,931,928 shares of the company’s stock valued at $354,655,000 after purchasing an additional 26,254 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after purchasing an additional 226,126 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $77.09 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm has a market cap of $44.21 billion, a PE ratio of 38.35, a PEG ratio of 3.58 and a beta of 1.05. The firm’s 50 day moving average price is $75.23 and its 200 day moving average price is $75.81. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

FAST has been the subject of several recent analyst reports. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Jefferies Financial Group raised their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.91.

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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.