Donaldson Capital Management LLC Invests $44.84 Million in Fastenal (NASDAQ:FAST)

Donaldson Capital Management LLC bought a new stake in Fastenal (NASDAQ:FAST) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 623,503 shares of the company’s stock, valued at approximately $44,836,000. Fastenal accounts for 1.7% of Donaldson Capital Management LLC’s holdings, making the stock its 26th largest holding. Donaldson Capital Management LLC owned 0.11% of Fastenal at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FAST. State Street Corp increased its holdings in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Fastenal by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after purchasing an additional 886,999 shares during the period. Geode Capital Management LLC grew its position in Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the period. Cantillon Capital Management LLC raised its holdings in Fastenal by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 4,931,928 shares of the company’s stock worth $354,655,000 after buying an additional 26,254 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fastenal by 5.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after buying an additional 226,126 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Stifel Nicolaus lowered their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Trading Down 0.2 %

Shares of Fastenal stock opened at $79.80 on Tuesday. The firm has a market cap of $45.76 billion, a PE ratio of 39.70, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 1 year low of $61.36 and a 1 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 stock has a fifty day moving average price of $74.43 and a 200-day moving average price of $75.13.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

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.