Landscape Capital Management L.L.C. Invests $1.10 Million in Fastenal (NASDAQ:FAST)

Landscape Capital Management L.L.C. purchased a new stake in Fastenal (NASDAQ:FAST) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,231 shares of the company’s stock, valued at approximately $1,095,000.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Finally, Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Trading Down 4.6 %

NASDAQ FAST opened at $74.42 on Friday. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The business’s fifty day moving average is $75.48 and its 200 day moving average is $76.19. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a market cap of $42.68 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.31%. Fastenal’s payout ratio is currently 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.