14,801 Shares in Fastenal Company $FAST Bought by Birchwood Financial Partners Inc.

Birchwood Financial Partners Inc. bought a new position in shares of Fastenal Company (NASDAQ:FAST) during the 4th quarter, Holdings Channel.com reports. The firm bought 14,801 shares of the company’s stock, valued at approximately $594,000.

Several other hedge funds have also recently bought and sold shares of the business. Palladiem LLC acquired a new stake in shares of Fastenal in the fourth quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal during the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Fastenal in the 3rd quarter valued at approximately $36,000. Field & Main Bank bought a new position in shares of Fastenal in the 4th quarter valued at approximately $30,000. Finally, Tucker Asset Management LLC acquired a new stake in Fastenal in the 4th quarter worth approximately $33,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FAST shares. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Wolfe Research lowered their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average price target of $49.57.

Fastenal Price Performance

NASDAQ FAST opened at $45.91 on Friday. The stock has a 50-day simple moving average of $45.13 and a 200 day simple moving average of $44.42. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $52.70 billion, a PE ratio of 40.27, a P/E/G ratio of 2.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $2.20 billion for 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 company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Research analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

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

Fastenal Company 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.