Louisiana State Employees Retirement System Purchases Shares of 133,900 Fastenal Company $FAST

Louisiana State Employees Retirement System acquired a new position in shares of Fastenal Company (NASDAQ:FAST) during the first quarter, Holdings Channel reports. The institutional investor acquired 133,900 shares of the company’s stock, valued at approximately $6,213,000.

Several other hedge funds have also modified their holdings of FAST. KFG Wealth Management LLC raised its holdings in Fastenal by 6.5% during the first quarter. KFG Wealth Management LLC now owns 6,719 shares of the company’s stock worth $312,000 after purchasing an additional 408 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Fastenal in the 1st quarter valued at $462,000. Ritholtz Wealth Management boosted its holdings in shares of Fastenal by 5.2% in the 1st quarter. Ritholtz Wealth Management now owns 157,289 shares of the company’s stock valued at $7,298,000 after buying an additional 7,732 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Fastenal in the 1st quarter valued at $213,000. Finally, OP Asset Management Ltd acquired a new stake in Fastenal during the 1st quarter worth $5,539,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ FAST opened at $47.10 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $45.06 and its two-hundred day moving average is $44.62. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 2.99 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a $0.24 dividend. 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 2.0%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

Analysts Set New Price Targets

FAST has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Robert W. Baird cut their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Bank of America boosted their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Finally, Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $49.57.

About Fastenal

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.