Fastenal (NASDAQ:FAST) Shares Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC boosted its position in Fastenal (NASDAQ:FAST) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,008 shares of the company’s stock after buying an additional 164 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Fastenal were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp lifted its holdings in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after buying an additional 136 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Fastenal by 1.2% in the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after purchasing an additional 142 shares in the last quarter. Catalina Capital Group LLC raised its stake in shares of Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Fastenal by 8.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock valued at $147,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $73.89 on Thursday. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a market cap of $42.37 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The company has a 50-day moving average price of $74.07 and a two-hundred day moving average price of $74.54.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company posted $0.46 EPS. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.33%. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. Wolfe Research upped their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Jefferies Financial Group upped their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, UBS Group initiated coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $76.91.

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.