Fastenal (NASDAQ:FAST) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 411,597 shares of the company’s stock after purchasing an additional 42,330 shares during the quarter. PNC Financial Services Group Inc. owned about 0.07% of Fastenal worth $29,598,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FAST. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the third quarter worth about $25,000. Knuff & Co LLC acquired a new stake in Fastenal in the third quarter valued at approximately $27,000. First Personal Financial Services acquired a new stake in Fastenal in the third quarter valued at approximately $36,000. Whipplewood Advisors LLC acquired a new stake in Fastenal in the fourth quarter valued at approximately $49,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Fastenal in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 2.7 %

NASDAQ:FAST opened at $79.98 on Monday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $45.86 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock has a fifty day simple moving average of $74.27 and a 200-day simple moving average of $75.04. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is presently 85.57%.

Analyst Ratings Changes

FAST has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Wolfe Research increased their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.91.

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.