Fastenal Company $FAST Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its position in shares of Fastenal Company (NASDAQ:FAST) by 1,023.9% during the fourth quarter, Holdings Channel reports. The fund owned 70,784 shares of the company’s stock after acquiring an additional 64,486 shares during the quarter. Inspire Investing LLC’s holdings in Fastenal were worth $2,841,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Palladiem LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at $36,000. Field & Main Bank acquired a new position in shares of Fastenal in the 4th quarter valued at $30,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FAST shares. DA Davidson upgraded shares of Fastenal to a “hold” rating and set a $46.00 price target on the stock in a report on Tuesday. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a report on Thursday, March 5th. Bank of America lifted their price target on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.57.

Fastenal Stock Performance

NASDAQ:FAST opened at $44.88 on Thursday. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.93 and a beta of 0.73. The firm’s fifty day simple moving average is $45.12 and its 200 day simple moving average is $44.38. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts expect that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s payout ratio is 84.21%.

About Fastenal

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.