Greykasell Wealth Strategies Inc. Takes $808,000 Position in Fastenal (NASDAQ:FAST)

Greykasell Wealth Strategies Inc. purchased a new stake in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,241 shares of the company’s stock, valued at approximately $808,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Raymond James Financial Inc. acquired a new position in shares of Fastenal during the 4th quarter valued at about $101,183,000. State Street Corp lifted its position in Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after buying an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fastenal by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after buying an additional 886,999 shares during the last quarter. Geode Capital Management LLC lifted its position in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares during the last quarter. Finally, Donaldson Capital Management LLC acquired a new position in Fastenal in the fourth quarter valued at about $44,836,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 2.1 %

Shares of NASDAQ:FAST opened at $75.26 on Friday. The firm’s 50 day moving average price is $74.74 and its 200 day moving average price is $75.24. The stock has a market cap of $43.16 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. As a group, equities research analysts predict 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. Investors of record on Friday, January 31st were issued a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.29%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analyst Ratings Changes

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