Fastenal (NASDAQ:FAST) Shares Purchased by Norden Group LLC

Norden Group LLC lifted its position in Fastenal (NASDAQ:FAST) by 19.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,745 shares of the company’s stock after acquiring an additional 1,444 shares during the quarter. Norden Group LLC’s holdings in Fastenal were worth $629,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. King Luther Capital Management Corp grew its position in shares of Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after acquiring an additional 142 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after acquiring an additional 142 shares in the last quarter. Catalina Capital Group LLC grew its position in shares of Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after acquiring an additional 146 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its position in shares of Fastenal by 2.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock worth $504,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 1.8 %

Shares of Fastenal stock opened at $74.38 on Tuesday. The business’s fifty day moving average price is $74.09 and its two-hundred day moving average price is $74.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The company has a market capitalization of $42.65 billion, a P/E ratio of 37.01, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FAST. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target on the stock. Wolfe Research raised 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. Finally, Jefferies Financial Group raised their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two research 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’s stock. According to MarketBeat.com, the company presently has an average 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.