Townsquare Capital LLC Has $3.98 Million Stake in Fastenal (NASDAQ:FAST)

Townsquare Capital LLC raised its position in shares of Fastenal (NASDAQ:FAST) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,278 shares of the company’s stock after acquiring an additional 8,704 shares during the period. Townsquare Capital LLC’s holdings in Fastenal were worth $3,975,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Fastenal by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 72,300,792 shares of the company’s stock valued at $5,199,150,000 after buying an additional 592,583 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fastenal by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after acquiring an additional 886,999 shares during the period. Geode Capital Management LLC grew its stake in shares of Fastenal by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 16,918,464 shares of the company’s stock worth $1,214,002,000 after acquiring an additional 234,713 shares during the last quarter. Norges Bank bought a new position in Fastenal during the fourth quarter worth $522,558,000. Finally, Invesco Ltd. raised its stake in Fastenal by 0.5% during the 4th quarter. Invesco Ltd. now owns 6,628,282 shares of the company’s stock valued at $476,640,000 after purchasing an additional 33,718 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Up 0.8 %

FAST opened at $81.30 on Tuesday. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 3.58 and a beta of 1.05. The firm’s 50-day simple moving average is $75.71 and its 200-day simple moving average is $76.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Equities research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Fastenal’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, April 25th. Fastenal’s payout ratio is currently 87.56%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective 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. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Robert W. Baird raised their price objective on Fastenal from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $77.45.

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.