Fieldview Capital Management LLC Invests $731,000 in Fastenal Company $FAST

Fieldview Capital Management LLC acquired a new position in Fastenal Company (NASDAQ:FAST) in the fourth quarter, Holdings Channel.com reports. The firm acquired 18,216 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Palladiem LLC purchased a new position in shares of Fastenal in the 4th quarter worth about $25,000. Elyxium Wealth LLC purchased a new position in shares of Fastenal in the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Fastenal in the 3rd quarter worth about $36,000. Field & Main Bank purchased a new position in shares of Fastenal in the 4th quarter worth about $30,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Fastenal in the 4th quarter worth about $33,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley reiterated a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Wolfe Research dropped their target price on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $49.57.

Fastenal Trading Down 1.0%

Shares of FAST stock opened at $46.10 on Tuesday. The stock has a market capitalization of $52.92 billion, a PE ratio of 40.44, a P/E/G ratio of 2.96 and a beta of 0.73. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The business has a 50-day moving average of $45.15 and a 200 day moving average of $44.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.Fastenal’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, sell-side analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio is presently 84.21%.

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.