Fastenal Company $FAST Stock Holdings Increased by Okabena Investment Services Inc.

Okabena Investment Services Inc. boosted its position in Fastenal Company (NASDAQ:FAST) by 72.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,734 shares of the company’s stock after buying an additional 18,812 shares during the quarter. Okabena Investment Services Inc.’s holdings in Fastenal were worth $1,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Fastenal by 1.6% in the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. State Street Corp increased its holdings in Fastenal by 1.2% in the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock valued at $2,196,502,000 after buying an additional 631,889 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after buying an additional 919,158 shares during the last quarter. Geode Capital Management LLC increased its holdings in Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after buying an additional 685,047 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after buying an additional 2,242,116 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America boosted their price objective on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Wolfe Research lowered their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. DA Davidson set a $46.00 price objective on Fastenal in a report on Monday. Finally, Robert W. Baird lowered their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.57.

Fastenal Stock Down 1.0%

NASDAQ:FAST opened at $46.10 on Tuesday. The firm has a market capitalization of $52.92 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.96 and a beta of 0.73. The stock has a 50 day moving average of $45.15 and a 200-day moving average of $44.31. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

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

Fastenal Dividend Announcement

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

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.