Fastenal Company $FAST Shares Acquired by Tobam

Tobam increased its position in shares of Fastenal Company (NASDAQ:FAST) by 6,427.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,539 shares of the company’s stock after buying an additional 21,209 shares during the quarter. Tobam’s holdings in Fastenal were worth $864,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Palladiem LLC bought a new position in Fastenal during the 4th quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in shares of Fastenal in the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC acquired a new position in Fastenal during the third quarter worth about $36,000. Finally, Field & Main Bank bought a new stake in Fastenal in the fourth quarter worth about $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Morgan Stanley restated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Robert W. Baird cut their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $49.57.

Fastenal Trading Up 0.0%

Shares of FAST stock opened at $45.91 on Friday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a market cap of $52.70 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $45.08 and its two-hundred day moving average is $44.43.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. Equities analysts predict that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is 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.