LPL Financial LLC Boosts Stock Holdings in Fastenal (NASDAQ:FAST)

LPL Financial LLC grew its position in Fastenal (NASDAQ:FAST) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,489 shares of the company’s stock after purchasing an additional 10,959 shares during the period. LPL Financial LLC’s holdings in Fastenal were worth $25,707,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FAST. Sound Financial Strategies Group LLC purchased a new stake in Fastenal in the 4th quarter valued at about $873,000. Matrix Trust Co bought a new position in shares of Fastenal in the fourth quarter valued at approximately $1,756,000. Franklin Resources Inc. increased its position in shares of Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after acquiring an additional 165,423 shares during the last quarter. Czech National Bank lifted its holdings in Fastenal by 6.5% during the fourth quarter. Czech National Bank now owns 124,213 shares of the company’s stock worth $8,932,000 after acquiring an additional 7,559 shares during the period. Finally, Armstrong Henry H Associates Inc. boosted its position in Fastenal by 29.9% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock worth $2,615,000 after purchasing an additional 8,380 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Fastenal stock opened at $76.17 on Monday. The firm has a market capitalization of $43.68 billion, a P/E ratio of 37.90, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business has a fifty day moving average price of $75.35 and a 200-day moving average price of $75.98.

Fastenal (NASDAQ:FAST) last issued 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 company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research 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 was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is 85.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FAST shares. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Wolfe Research raised their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. 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, Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.