Sava Infond d.o.o. Invests $266,000 in Fastenal (NASDAQ:FAST)

Sava Infond d.o.o. purchased a new stake in Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,700 shares of the company’s stock, valued at approximately $266,000.

Other large investors have also recently bought and sold shares of the company. HB Wealth Management LLC boosted its holdings in shares of Fastenal by 1.2% during the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after acquiring an additional 142 shares during the period. Cozad Asset Management Inc. boosted its stake in Fastenal by 5.5% in the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock valued at $215,000 after purchasing an additional 155 shares during the period. Checchi Capital Advisers LLC grew its holdings in Fastenal by 2.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after buying an additional 164 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after buying an additional 166 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in Fastenal by 1.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock worth $1,026,000 after buying an additional 177 shares during the period. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FAST has been the topic of several research reports. Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus decreased their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research lifted their price target 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 downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Finally, William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Stock Performance

Shares of FAST stock opened at $77.73 on Friday. The firm has a market capitalization of $44.57 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 3.58 and a beta of 1.05. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $75.35 and its 200-day moving average price is $75.83. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

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

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.21%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

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.