Corient Private Wealth LLC Boosts Stake in Fastenal (NASDAQ:FAST)

Corient Private Wealth LLC boosted its position in Fastenal (NASDAQ:FAST) by 242.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,595 shares of the company’s stock after purchasing an additional 274,988 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Fastenal worth $27,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Knuff & Co LLC bought a new stake in shares of Fastenal during the 3rd quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Fastenal during the fourth quarter worth $46,000. Whipplewood Advisors LLC bought a new stake in shares of Fastenal during the fourth quarter worth $49,000. SBI Securities Co. Ltd. purchased a new stake in shares of Fastenal during the fourth quarter valued at $49,000. Finally, R Squared Ltd bought a new position in shares of Fastenal in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FAST. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus dropped their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Trading Up 0.0 %

Fastenal stock opened at $76.09 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The stock has a market cap of $43.63 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock has a 50-day moving average of $74.90 and a two-hundred day moving average of $75.46. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. Fastenal’s payout ratio is 85.57%.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.