Fastenal (NASDAQ:FAST) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Fastenal (NASDAQ:FAST) from an underperform rating to a peer perform rating in a report published on Thursday morning, MarketBeat.com reports.

Other analysts have also issued research reports about the company. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report 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 report on Tuesday, January 21st. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Finally, William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.91.

Fastenal Trading Down 4.6 %

Shares of FAST stock opened at $74.42 on Thursday. The firm has a market cap of $42.68 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The business has a 50-day moving average price of $75.48 and a two-hundred day moving average price of $76.19. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share 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 business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $0.46 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s payout ratio is presently 85.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Legacy Private Trust Co. bought a new stake in Fastenal in the 1st quarter valued at $206,000. First Hawaiian Bank raised its position in shares of Fastenal by 1.0% in the 1st quarter. First Hawaiian Bank now owns 19,259 shares of the company’s stock worth $1,494,000 after acquiring an additional 191 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Fastenal by 33.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,330 shares of the company’s stock worth $258,000 after acquiring an additional 830 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Fastenal by 40.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 234,623 shares of the company’s stock valued at $16,872,000 after buying an additional 66,991 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in Fastenal by 4.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 8,567 shares of the company’s stock worth $616,000 after purchasing an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Company 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.