Fastenal Company $FAST Stake Raised by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its holdings in Fastenal Company (NASDAQ:FAST) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,694 shares of the company’s stock after buying an additional 10,665 shares during the quarter. Kestra Advisory Services LLC’s holdings in Fastenal were worth $7,595,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Palladiem LLC acquired a new position in Fastenal during the 4th quarter worth $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal during the fourth quarter valued at $25,000. MV Capital Management Inc. bought a new stake in shares of Fastenal during the fourth quarter valued at about $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Fastenal during the third quarter valued at about $36,000. Finally, Field & Main Bank acquired a new stake in Fastenal in the fourth quarter worth about $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on FAST shares. Bank of America boosted their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Robert W. Baird lowered their price objective on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. boosted their target price on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Wolfe Research restated an “underperform” rating and issued a $47.00 target price on shares of Fastenal in a research report on Thursday. Finally, Barclays increased their price target on Fastenal from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus price target of $48.31.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $47.05 on Tuesday. Fastenal Company has a twelve month low of $38.97 and a twelve 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. The firm has a 50-day moving average of $45.60 and a two-hundred day moving average of $45.09. The company has a market capitalization of $54.02 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 2.94 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts expect that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.2%. Fastenal’s payout ratio is 84.21%.

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.