Fastenal (NASDAQ:FAST) Shares Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its stake in Fastenal (NASDAQ:FAST) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,258 shares of the company’s stock after purchasing an additional 13,259 shares during the period. LGT Fund Management Co Ltd.’s holdings in Fastenal were worth $7,569,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the 3rd quarter valued at $25,000. Knuff & Co LLC acquired a new stake in Fastenal in the 3rd quarter valued at $27,000. First Personal Financial Services acquired a new stake in Fastenal in the 3rd quarter valued at $36,000. Whipplewood Advisors LLC acquired a new stake in Fastenal in the 4th quarter valued at $49,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Fastenal in the 4th quarter valued at $49,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 2.2 %

NASDAQ:FAST opened at $75.73 on Monday. The company has a market capitalization of $43.43 billion, a price-to-earnings ratio of 37.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a 50-day simple moving average of $74.09 and a 200 day simple moving average of $74.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last posted its quarterly 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). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.27%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Wolfe Research raised their target price on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. Finally, UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Company 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.