Fastenal Company $FAST Holdings Lifted by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,383 shares of the company’s stock after buying an additional 19,001 shares during the period. Wealthfront Advisers LLC’s holdings in Fastenal were worth $9,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FAST. Palladiem LLC acquired a new stake in Fastenal in the 4th quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new position in Fastenal during the 4th quarter worth $25,000. MV Capital Management Inc. bought a new position in shares of Fastenal in the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Fastenal in the third quarter worth $36,000. Finally, Field & Main Bank acquired a new position in shares of Fastenal during the fourth quarter valued at $30,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, July 8th. DA Davidson reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday. Bank of America boosted their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Barclays reduced their price target on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Morgan Stanley increased their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Stock Down 2.5%

NASDAQ FAST opened at $45.49 on Friday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a market capitalization of $52.22 billion, a P/E ratio of 38.55, a PEG ratio of 2.93 and a beta of 0.72. The company’s 50 day simple moving average is $45.71 and its 200 day simple moving average is $45.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company posted $0.29 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts expect that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. 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 dividend yield of 2.3%. The ex-dividend date is Tuesday, July 28th. Fastenal’s dividend payout ratio is presently 81.36%.

Fastenal Company 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.