DJE Kapital AG boosted its stake in Fastenal Company (NASDAQ:FAST – Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,299 shares of the company’s stock after acquiring an additional 13,499 shares during the period. DJE Kapital AG’s holdings in Fastenal were worth $16,191,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Wiregrass Investment Management LLC bought a new stake in shares of Fastenal during the fourth quarter valued at about $1,020,000. Assenagon Asset Management S.A. grew its position in Fastenal by 20.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 328,263 shares of the company’s stock valued at $13,173,000 after buying an additional 55,191 shares in the last quarter. Swiss Life Asset Management Ltd grew its position in Fastenal by 2.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,491,994 shares of the company’s stock valued at $59,874,000 after buying an additional 39,406 shares in the last quarter. LBP AM SA increased its stake in Fastenal by 11.8% during the 4th quarter. LBP AM SA now owns 232,847 shares of the company’s stock valued at $9,344,000 after buying an additional 24,536 shares during the period. Finally, Fideuram Asset Management Ireland dac acquired a new position in Fastenal during the 4th quarter valued at about $4,041,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on FAST shares. Morgan Stanley upped their price target on shares of Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Wolfe Research reiterated an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a research note on Thursday, July 9th. Barclays dropped their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, July 8th. Finally, Bank of America increased their price target on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.83.
Fastenal Trading Down 1.6%
Fastenal stock opened at $44.76 on Tuesday. The firm has a market cap of $51.36 billion, a price-to-earnings ratio of 37.93, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The firm’s 50 day moving average price is $45.74 and its two-hundred day moving average price is $45.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.
Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, research analysts predict that Fastenal Company will post 1.25 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s payout ratio is presently 81.36%.
About Fastenal
Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.
Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.
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