Dickmeyer Boyce Financial Management Inc. Takes $861,000 Position in Fastenal Company $FAST

Dickmeyer Boyce Financial Management Inc. bought a new stake in shares of Fastenal Company (NASDAQ:FAST) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 18,554 shares of the company’s stock, valued at approximately $861,000.

Other large investors have also bought and sold shares of the company. Elyxium Wealth LLC bought a new position in Fastenal in the fourth quarter worth approximately $25,000. Palladiem LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $25,000. Evergreen Advisors LLC bought a new stake in shares of Fastenal during the first quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in shares of Fastenal during the fourth quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new position in shares of Fastenal during the fourth quarter worth approximately $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on FAST shares. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. DA Davidson restated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Bank of America raised their price objective on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $48.83.

Fastenal Price Performance

Fastenal stock opened at $46.15 on Friday. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company’s 50 day moving average price is $45.85 and its two-hundred day moving average price is $45.34. The stock has a market cap of $52.96 billion, a P/E ratio of 39.11, a P/E/G ratio of 2.84 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. On average, equities analysts predict that Fastenal Company will post 1.25 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.3%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 81.36%.

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.