Fastenal (NASDAQ:FAST) Shares Purchased by Boston Financial Mangement LLC

Boston Financial Mangement LLC increased its stake in shares of Fastenal (NASDAQ:FAST) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 34,830 shares of the company’s stock after buying an additional 1,037 shares during the quarter. Boston Financial Mangement LLC’s holdings in Fastenal were worth $2,505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FAST. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $25,000. Knuff & Co LLC purchased a new stake in Fastenal in the 3rd quarter worth approximately $27,000. First Personal Financial Services purchased a new stake in Fastenal in the 3rd quarter worth approximately $36,000. MCF Advisors LLC grew its stake in Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the period. Finally, R Squared Ltd purchased a new stake in Fastenal in the 4th quarter worth approximately $68,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 0.6 %

Shares of NASDAQ FAST opened at $75.14 on Friday. The firm has a fifty day moving average of $74.37 and a 200-day moving average of $74.23. 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 has a 52-week low of $61.36 and a 52-week high of $84.88. The stock has a market capitalization of $43.09 billion, a PE ratio of 37.38, a P/E/G ratio of 3.57 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced 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 analysts’ expectations of $1.84 billion. During the same period last year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Analyst Upgrades and Downgrades

Several analysts have commented on FAST shares. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group started coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. 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. Stifel Nicolaus lowered their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.