Boussard & Gavaudan Investment Management LLP Makes New Investment in Fastenal (NASDAQ:FAST)

Boussard & Gavaudan Investment Management LLP bought a new stake in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,242 shares of the company’s stock, valued at approximately $1,959,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in shares of Fastenal during the fourth quarter valued at $46,000. Whipplewood Advisors LLC purchased a new position in Fastenal during the fourth quarter valued at $49,000. SBI Securities Co. Ltd. bought a new stake in shares of Fastenal in the fourth quarter worth about $49,000. R Squared Ltd bought a new stake in Fastenal in the 4th quarter worth approximately $68,000. Finally, Eastern Bank lifted its position in 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. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.8 %

Shares of NASDAQ:FAST opened at $77.73 on Friday. The company has a market capitalization of $44.57 billion, a PE ratio of 38.67, a PEG ratio of 3.58 and a beta of 1.05. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $75.35 and a two-hundred day moving average of $75.83. Fastenal has a 12-month low of $61.36 and a 12-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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $0.46 EPS. Fastenal’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FAST. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. 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. Wolfe Research raised their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Jefferies Financial Group boosted their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $76.91.

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.