Crew Capital Management Ltd. Buys 834 Shares of Fastenal (NASDAQ:FAST)

Crew Capital Management Ltd. boosted its stake in shares of Fastenal (NASDAQ:FAST) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,271 shares of the company’s stock after acquiring an additional 834 shares during the quarter. Fastenal makes up approximately 0.9% of Crew Capital Management Ltd.’s holdings, making the stock its 28th biggest holding. Crew Capital Management Ltd.’s holdings in Fastenal were worth $1,098,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FAST. Chicago Partners Investment Group LLC boosted its stake in shares of Fastenal by 34.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,895 shares of the company’s stock valued at $372,000 after purchasing an additional 1,246 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Fastenal by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 131,493 shares of the company’s stock valued at $9,984,000 after purchasing an additional 13,039 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Fastenal in the 3rd quarter valued at about $225,000. QRG Capital Management Inc. boosted its stake in shares of Fastenal by 22.8% in the 3rd quarter. QRG Capital Management Inc. now owns 60,575 shares of the company’s stock valued at $4,326,000 after purchasing an additional 11,259 shares during the last quarter. Finally, Moloney Securities Asset Management LLC boosted its stake in shares of Fastenal by 14.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 8,592 shares of the company’s stock valued at $614,000 after purchasing an additional 1,091 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $74.23 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The company has a market capitalization of $42.57 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The company’s 50 day moving average price is $74.07 and its two-hundred day moving average price is $74.83. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88.

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

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Finally, UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.