Fastenal Company $FAST Stock Holdings Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 210,383 shares of the company’s stock after purchasing an additional 19,001 shares during the quarter. Wealthfront Advisers LLC’s holdings in Fastenal were worth $9,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its stake in shares of Fastenal by 2.6% during the 1st quarter. D.A. Davidson & CO. now owns 72,146 shares of the company’s stock valued at $3,348,000 after buying an additional 1,804 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Fastenal by 2.7% in the first quarter. Illinois Municipal Retirement Fund now owns 398,050 shares of the company’s stock worth $18,470,000 after acquiring an additional 10,523 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Fastenal by 12.5% in the first quarter. Sanctuary Advisors LLC now owns 187,113 shares of the company’s stock worth $8,682,000 after acquiring an additional 20,791 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Fastenal by 31.4% during the first quarter. Sigma Planning Corp now owns 39,039 shares of the company’s stock worth $1,811,000 after acquiring an additional 9,331 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Fastenal by 12.2% during the first quarter. Checchi Capital Advisers LLC now owns 14,178 shares of the company’s stock worth $658,000 after acquiring an additional 1,539 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 2.5%

Fastenal stock opened at $45.49 on Friday. The company has a current ratio of 4.18, a quick ratio of 2.34 and a debt-to-equity ratio of 0.01. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The firm’s fifty day simple moving average is $45.71 and its 200-day simple moving average is $45.18. The company has a market capitalization of $52.22 billion, a P/E ratio of 38.55, a P/E/G ratio of 2.93 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Sell-side analysts forecast that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be given a $0.26 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s payout ratio is presently 81.36%.

Analyst Ratings Changes

A number of brokerages have commented on FAST. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, July 8th. Robert W. Baird cut their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Wolfe Research reaffirmed an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $48.83.

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.