RD Lewis Holdings Inc. Invests $764,000 in Fastenal (NASDAQ:FAST)

RD Lewis Holdings Inc. bought a new position in shares of Fastenal (NASDAQ:FAST) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,350 shares of the company’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Financial Strategies Group LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $873,000. PNC Financial Services Group Inc. raised its position in shares of Fastenal by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares during the period. Matrix Trust Co acquired a new stake in shares of Fastenal during the fourth quarter worth $1,756,000. Franklin Resources Inc. raised its position in shares of Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after purchasing an additional 165,423 shares during the period. Finally, Armstrong Henry H Associates Inc. raised its position in shares of Fastenal by 29.9% during the fourth 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 period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $76.07 on Tuesday. The business’s 50-day moving average price is $74.82 and its two-hundred day moving average price is $75.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a market capitalization of $43.62 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 15.25% and a return on equity of 32.55%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. Analysts anticipate 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. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. Fastenal’s dividend payout ratio is currently 85.57%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent analyst reports. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Stifel Nicolaus dropped 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. Jefferies Financial Group upped their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.