Fastenal (NASDAQ:FAST) Position Boosted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its position in Fastenal (NASDAQ:FAST) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 88,159 shares of the company’s stock after buying an additional 4,012 shares during the period. Rockefeller Capital Management L.P.’s holdings in Fastenal were worth $6,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Fastenal during the 4th quarter valued at about $46,000. Whipplewood Advisors LLC bought a new position in shares of Fastenal during the fourth quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $49,000. R Squared Ltd bought a new stake in shares of Fastenal in the 4th quarter worth approximately $68,000. Finally, Eastern Bank lifted its holdings in shares of Fastenal by 440.7% in the 4th quarter. Eastern Bank now owns 984 shares of the company’s stock worth $71,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the completion of the sale, the executive vice president now directly owns 5,997 shares of the company’s stock, valued at approximately $487,616.07. This represents a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Fastenal Stock Up 1.3 %

FAST opened at $81.54 on Friday. 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 company has a market capitalization of $46.76 billion, a PE ratio of 40.56, a P/E/G ratio of 3.58 and a beta of 1.05. The stock’s fifty day moving average is $76.14 and its 200-day moving average is $76.57. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. On average, equities analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be given a $0.44 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.76 annualized dividend and a yield of 2.16%. Fastenal’s payout ratio is 87.56%.

Analysts Set New Price Targets

FAST has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird increased their price objective on shares of Fastenal from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Finally, Stephens boosted their price objective on Fastenal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.10.

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.