SVB Wealth LLC Takes Position in Fastenal (NASDAQ:FAST)

SVB Wealth LLC purchased a new position in Fastenal (NASDAQ:FAST) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,932 shares of the company’s stock, valued at approximately $355,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Fastenal in the 3rd quarter worth $25,000. Knuff & Co LLC purchased a new position in shares of Fastenal during the third quarter valued at about $27,000. First Personal Financial Services bought a new position in Fastenal in the third quarter worth about $36,000. Whipplewood Advisors LLC purchased a new stake in Fastenal in the fourth quarter worth about $49,000. Finally, R Squared Ltd bought a new stake in Fastenal during the 4th quarter valued at approximately $68,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FAST. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. UBS Group initiated coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Finally, Wolfe Research lifted their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two investment 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. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average target price of $76.91.

Fastenal Stock Down 0.2 %

Shares of Fastenal stock opened at $74.23 on Wednesday. The company has a 50-day simple moving average of $74.07 and a two-hundred day simple moving average of $74.83. The stock has a market capitalization of $42.57 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. 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.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data 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 firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is presently 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.