Fastenal (NASDAQ:FAST) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in shares of Fastenal (NASDAQ:FAST) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,505 shares of the company’s stock after acquiring an additional 937 shares during the period. Pinnacle Financial Partners Inc’s holdings in Fastenal were worth $9,528,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Fastenal in the third quarter worth about $25,000. Knuff & Co LLC acquired a new position in Fastenal in the third quarter worth about $27,000. First Personal Financial Services acquired a new position in Fastenal in the third quarter worth about $36,000. MCF Advisors LLC grew its stake in Fastenal by 54.1% in the third 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 position in Fastenal in the fourth quarter worth about $68,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group assumed coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Stifel Nicolaus decreased their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Wolfe Research lifted their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

FAST opened at $74.78 on Friday. The business’s 50 day moving average is $74.22 and its 200-day moving average is $74.36. The stock has a market cap of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. 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 business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. On average, analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Fastenal Company 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.