Marks Group Wealth Management Inc Has $3.31 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Marks Group Wealth Management Inc decreased its stake in Fastenal (NASDAQ:FAST) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,072 shares of the company’s stock after selling 1,628 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Fastenal were worth $3,313,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal in the third quarter worth $25,000. Knuff & Co LLC purchased a new position in Fastenal in the third quarter valued at about $27,000. First Personal Financial Services acquired a new position in Fastenal in the 3rd quarter worth about $36,000. MCF Advisors LLC raised its stake in shares of Fastenal by 54.1% during the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Fastenal during the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.8 %

Fastenal stock opened at $74.33 on Wednesday. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. 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 capitalization of $42.58 billion, a PE ratio of 36.98, a PEG ratio of 3.55 and a beta of 1.02. The business’s 50-day simple moving average is $75.26 and its 200-day simple moving average is $74.02.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, January 17th. The company reported $0.46 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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Wolfe Research raised 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average 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.