Schroder Investment Management Group Grows Stock Position in Fastenal (NASDAQ:FAST)

Schroder Investment Management Group increased its position in shares of Fastenal (NASDAQ:FAST) by 28.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,503,948 shares of the company’s stock after purchasing an additional 329,550 shares during the period. Schroder Investment Management Group’s holdings in Fastenal were worth $108,164,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Financial Strategies Group LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $873,000. Matrix Trust Co purchased a new stake in Fastenal during the 4th quarter valued at about $1,756,000. Franklin Resources Inc. raised its holdings in Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after acquiring an additional 165,423 shares during the last quarter. Czech National Bank lifted its stake in Fastenal by 6.5% in the 4th quarter. Czech National Bank now owns 124,213 shares of the company’s stock worth $8,932,000 after purchasing an additional 7,559 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its holdings in shares of Fastenal by 29.9% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock worth $2,615,000 after purchasing an additional 8,380 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Down 2.0 %

Shares of NASDAQ FAST opened at $76.17 on Monday. 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 stock has a market capitalization of $43.68 billion, a PE ratio of 37.90, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The stock has a fifty day simple moving average of $75.35 and a 200-day simple moving average of $75.98.

Fastenal (NASDAQ:FAST) last issued its quarterly 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 business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, January 31st. 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 Analyst Weigh In

FAST has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on 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 Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Jefferies Financial Group lifted their target price 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. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.91.

About Fastenal

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.