Fastenal Company $FAST Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 3.3% in the first quarter, HoldingsChannel reports. The firm owned 508,933 shares of the company’s stock after acquiring an additional 16,388 shares during the period. Janney Montgomery Scott LLC’s holdings in Fastenal were worth $23,614,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after buying an additional 147 shares in the last quarter. Sittner & Nelson LLC increased its position in Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. Founders Capital Management LLC increased its position in Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after buying an additional 228 shares in the last quarter. L2 Asset Management LLC raised its holdings in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. raised its holdings in shares of Fastenal by 3.2% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock worth $322,000 after acquiring an additional 250 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.6%

Shares of FAST opened at $47.40 on Tuesday. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The company has a market capitalization of $54.42 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The stock has a fifty day moving average of $45.11 and a two-hundred day moving average of $44.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, analysts forecast that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

Wall Street Analyst Weigh In

FAST has been the topic of several recent research reports. DA Davidson initiated coverage on Fastenal in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price objective on the stock. Wolfe Research dropped their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Barclays set a $46.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.57.

Fastenal Profile

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.