Havemeyer Place LP purchased a new stake in Fastenal Company (NASDAQ:FAST – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 23,889 shares of the company’s stock, valued at approximately $959,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in FAST. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $25,000. REAP Financial Group LLC acquired a new stake in shares of Fastenal in the third quarter valued at about $30,000. Field & Main Bank acquired a new stake in shares of Fastenal in the fourth quarter valued at about $30,000. Tucker Asset Management LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $33,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at about $35,000. 81.38% of the stock is owned by institutional investors and hedge funds.
Fastenal Price Performance
FAST stock opened at $46.79 on Monday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a market cap of $53.72 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.97 and a beta of 0.73. The business’s 50-day simple moving average is $45.08 and its 200 day simple moving average is $44.03. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.
Fastenal Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.
Analyst Upgrades and Downgrades
FAST has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 target price on shares of Fastenal in a research report on Tuesday, April 14th. Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Raymond James Financial set a $48.00 target price on Fastenal in a research report on Thursday, March 5th. Robert W. Baird decreased their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday. Five equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.85.
View Our Latest Stock Report on Fastenal
Fastenal Profile
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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