TCW Group Inc. Has $6.77 Million Stake in Fastenal (NASDAQ:FAST)

TCW Group Inc. raised its stake in Fastenal (NASDAQ:FAST) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,099 shares of the company’s stock after acquiring an additional 197 shares during the period. TCW Group Inc.’s holdings in Fastenal were worth $6,767,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FAST. Pinnacle Financial Partners Inc increased its position in shares of Fastenal by 0.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 132,505 shares of the company’s stock worth $9,528,000 after purchasing an additional 937 shares in the last quarter. Redmond Asset Management LLC grew its stake in Fastenal by 1.2% during the fourth quarter. Redmond Asset Management LLC now owns 55,983 shares of the company’s stock worth $4,026,000 after buying an additional 677 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Fastenal by 0.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 65,690 shares of the company’s stock worth $4,724,000 after buying an additional 255 shares in the last quarter. Suncoast Equity Management raised its stake in shares of Fastenal by 10.9% in the fourth quarter. Suncoast Equity Management now owns 13,110 shares of the company’s stock valued at $943,000 after acquiring an additional 1,285 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Fastenal in the fourth quarter valued at approximately $1,162,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 0.5 %

Shares of NASDAQ FAST opened at $74.78 on Monday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm’s 50-day moving average is $74.22 and its 200-day moving average is $74.43. 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 firm has a market capitalization of $42.88 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data 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). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. Equities analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. Fastenal’s payout ratio is 85.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FAST shares. Stifel Nicolaus dropped 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. UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, HSBC downgraded shares of 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. Two research 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 MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price 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.