Fastenal (NASDAQ:FAST) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC raised its holdings in shares of Fastenal (NASDAQ:FAST) by 242.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 388,595 shares of the company’s stock after buying an additional 274,988 shares during the quarter. Corient Private Wealth LLC’s holdings in Fastenal were worth $27,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Choate Investment Advisors boosted its stake in shares of Fastenal by 8.4% in the fourth quarter. Choate Investment Advisors now owns 3,536 shares of the company’s stock worth $254,000 after buying an additional 274 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Fastenal by 1.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 20,846 shares of the company’s stock valued at $1,499,000 after acquiring an additional 318 shares during the period. Greykasell Wealth Strategies Inc. purchased a new stake in Fastenal in the 4th quarter worth approximately $808,000. Associated Banc Corp grew its stake in shares of Fastenal by 11.2% during the 4th quarter. Associated Banc Corp now owns 4,457 shares of the company’s stock worth $321,000 after purchasing an additional 450 shares during the period. Finally, Postrock Partners LLC purchased a new position in shares of Fastenal during the 4th quarter valued at approximately $12,174,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.0 %

Shares of FAST opened at $76.09 on Wednesday. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The stock has a market cap of $43.63 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The firm’s fifty day moving average is $74.90 and its two-hundred day moving average is $75.46. 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 posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal 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 given a dividend of $0.43 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.26%. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FAST shares. William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. HSBC cut 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. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research boosted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Fastenal presently 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.