Fastenal Company $FAST Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,694 shares of the company’s stock after purchasing an additional 10,665 shares during the period. Kestra Advisory Services LLC’s holdings in Fastenal were worth $7,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wiregrass Investment Management LLC bought a new stake in shares of Fastenal in the fourth quarter worth $1,020,000. Stance Capital LLC lifted its position in shares of Fastenal by 653.1% during the third quarter. Stance Capital LLC now owns 54,976 shares of the company’s stock worth $2,696,000 after purchasing an additional 47,676 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Fastenal by 20.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 328,263 shares of the company’s stock worth $13,173,000 after purchasing an additional 55,191 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in Fastenal by 2.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,491,994 shares of the company’s stock worth $59,874,000 after purchasing an additional 39,406 shares in the last quarter. Finally, LBP AM SA grew its stake in Fastenal by 11.8% in the fourth quarter. LBP AM SA now owns 232,847 shares of the company’s stock worth $9,344,000 after purchasing an additional 24,536 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 1.2%

NASDAQ:FAST opened at $47.05 on Tuesday. The firm has a market capitalization of $54.02 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.72. The stock has a 50 day moving average of $45.60 and a 200-day moving average of $45.09. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Analysts predict that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wolfe Research restated an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a research note on Thursday. Barclays boosted their price target on Fastenal from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. DA Davidson started coverage on Fastenal in a research note on Tuesday, June 16th. They set a “neutral” rating and a $46.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.31.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.