Fastenal (NASDAQ:FAST) Given Consensus Recommendation of “Hold” by Brokerages

Fastenal (NASDAQ:FAST) has been assigned an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $76.91.

A number of equities analysts recently commented on FAST shares. Jefferies Financial Group increased their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wolfe Research raised their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Stifel Nicolaus lowered their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th.

Fastenal Price Performance

Shares of Fastenal stock opened at $75.99 on Thursday. The stock has a 50 day moving average of $74.62 and a 200 day moving average of $75.20. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The firm has a market cap of $43.58 billion, a PE ratio of 37.81, a PEG ratio of 3.58 and a beta of 1.05. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $0.46 earnings per share. Fastenal’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Institutional Investors Weigh In On Fastenal

Several hedge funds and other institutional investors have recently modified their holdings of FAST. Sound Financial Strategies Group LLC purchased a new position in Fastenal during the 4th quarter worth $873,000. Comgest Global Investors S.A.S. increased its holdings in Fastenal by 73.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after purchasing an additional 36,742 shares during the period. PNC Financial Services Group Inc. increased its holdings in Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares during the period. Matrix Trust Co purchased a new position in Fastenal during the 4th quarter worth $1,756,000. Finally, Franklin Resources Inc. increased its holdings in Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after purchasing an additional 165,423 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.