Fastenal Company $FAST Stock Purchased by Vise Technologies Inc.

Vise Technologies Inc. grew its position in shares of Fastenal Company (NASDAQ:FAST) by 47.0% during the 3rd quarter, Holdings Channel reports. The firm owned 88,267 shares of the company’s stock after purchasing an additional 28,212 shares during the period. Vise Technologies Inc.’s holdings in Fastenal were worth $4,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Fastenal in the 2nd quarter worth approximately $26,000. Evergreen Advisors LLC acquired a new stake in Fastenal during the first quarter valued at approximately $26,000. Independence Bank of Kentucky acquired a new stake in Fastenal during the third quarter valued at approximately $30,000. Frazier Financial Advisors LLC bought a new stake in Fastenal during the second quarter worth approximately $38,000. Finally, Paladin Partners LLC bought a new stake in Fastenal during the second quarter worth approximately $39,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $52.33 on Wednesday. The company’s 50 day moving average price is $50.52 and its 200 day moving average price is $47.29. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $53.30. The company has a market capitalization of $60.04 billion, a PE ratio of 42.20, a PEG ratio of 3.15 and a beta of 0.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 3.93.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Fastenal had a net margin of 15.62% and a return on equity of 35.13%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the business posted $0.29 earnings per share. Fastenal’s revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts expect that Fastenal Company will post 1.27 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 83.87%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FAST shares. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $47.00 price target (up from $42.00) on shares of Fastenal in a report on Thursday, October 15th. Morgan Stanley raised their price objective on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Barclays reduced their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Argus lifted their target price on Fastenal from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Finally, Robert W. Baird lifted their target price on Fastenal from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.46.

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies headquartered in Winona, Minnesota. Founded in 1967, the company primarily serves businesses that require products for manufacturing, construction, maintenance, repair and operations.

Its product range includes threaded fasteners, bolts, nuts, screws, industrial and safety supplies, tools, electrical and plumbing products, material-handling equipment, and other related items. Fastenal also provides inventory-management solutions, including automated vending machines, customer-specific inventory programs and onsite services designed to improve product availability and purchasing efficiency.

Fastenal serves customers through a network of locations and sales channels across the United States, Canada, Mexico, Europe and parts of Asia.