Valeo Financial Advisors LLC Has $744,000 Position in Fastenal (NASDAQ:FAST)

Valeo Financial Advisors LLC raised its position in shares of Fastenal (NASDAQ:FAST) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,342 shares of the company’s stock after purchasing an additional 1,463 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Fastenal were worth $744,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FAST. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Fastenal by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,818 shares of the company’s stock valued at $4,201,000 after purchasing an additional 240 shares during the period. V Square Quantitative Management LLC raised its stake in Fastenal by 34.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,562 shares of the company’s stock valued at $540,000 after purchasing an additional 1,930 shares during the period. Claro Advisors LLC raised its stake in Fastenal by 84.1% during the 3rd quarter. Claro Advisors LLC now owns 6,960 shares of the company’s stock valued at $497,000 after purchasing an additional 3,180 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in Fastenal during the 3rd quarter valued at $310,000. Finally, Blue Trust Inc. raised its stake in Fastenal by 121.5% during the 3rd quarter. Blue Trust Inc. now owns 8,193 shares of the company’s stock valued at $585,000 after purchasing an additional 4,494 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Down 0.0 %

Shares of NASDAQ:FAST opened at $74.78 on Monday. The stock has a market capitalization of $42.84 billion, a PE ratio of 37.20, a P/E/G ratio of 3.55 and a beta of 1.02. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm has a fifty day moving average price of $74.65 and a 200 day moving average price of $74.10. 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 released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (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 quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FAST. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Stifel Nicolaus dropped their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.91.

Fastenal Profile

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.