Westerkirk Capital Inc. boosted its position in Fastenal Company (NASDAQ:FAST – Free Report) by 90.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,800 shares of the company’s stock after purchasing an additional 19,400 shares during the period. Westerkirk Capital Inc.’s holdings in Fastenal were worth $1,637,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Fastenal in the fourth quarter worth about $25,000. Palladiem LLC purchased a new position in Fastenal in the fourth quarter worth about $25,000. REAP Financial Group LLC purchased a new position in Fastenal in the third quarter worth about $30,000. Field & Main Bank purchased a new position in Fastenal in the fourth quarter worth about $30,000. Finally, Tucker Asset Management LLC purchased a new position in Fastenal in the fourth quarter worth about $33,000. 81.38% of the stock is owned by hedge funds and other institutional investors.
Fastenal Stock Down 1.7%
Shares of FAST opened at $46.00 on Tuesday. The business’s 50 day moving average is $45.10 and its 200 day moving average is $44.08. The company has a market capitalization of $52.81 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.97 and a beta of 0.73. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.
Fastenal Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s payout ratio is presently 84.21%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on FAST shares. Bank of America lifted their price objective on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Robert W. Baird lowered their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Barclays set a $46.00 price objective on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $48.00 price objective on Fastenal in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.85.
Read Our Latest Report on Fastenal
Fastenal Company 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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