Fastenal Company $FAST Stock: Vestor Capital LLC Grows Holdings

Vestor Capital LLC grew its position in shares of Fastenal Company (NASDAQ:FAST) by 746,080.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 343,243 shares of the company’s stock after buying an additional 343,197 shares during the quarter. Vestor Capital LLC’s holdings in Fastenal were worth $17,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC increased its position in Fastenal by 8.8% during the third quarter. Kestra Investment Management LLC now owns 8,264 shares of the company’s stock worth $409,000 after buying an additional 667 shares during the period. AlphaCore Capital LLC lifted its stake in Fastenal by 4.4% in the third quarter. AlphaCore Capital LLC now owns 38,174 shares of the company’s stock valued at $1,891,000 after buying an additional 1,615 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Fastenal by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 69,266 shares of the company’s stock valued at $3,479,000 after buying an additional 5,008 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its stake in Fastenal by 30.6% in the third quarter. Beverly Hills Private Wealth LLC now owns 20,737 shares of the company’s stock valued at $1,027,000 after buying an additional 4,856 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Fastenal in the third quarter valued at approximately $197,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 3.0%

FAST opened at $54.57 on Tuesday. The business has a 50 day moving average price of $50.75 and a two-hundred day moving average price of $47.48. The company has a quick ratio of 2.11, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. The company has a market cap of $62.61 billion, a PE ratio of 44.01, a P/E/G ratio of 3.19 and a beta of 0.66. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $54.99.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Fastenal had a return on equity of 35.13% and a net margin of 15.62%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts anticipate that Fastenal Company will post 1.28 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is currently 83.87%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FAST shares. William Blair reissued an “outperform” rating on shares of Fastenal in a report on Friday, September 4th. Barclays cut their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Fastenal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, October 28th. Wolfe Research started coverage on shares of Fastenal in a research note on Tuesday, September 15th. They set an “underperform” rating and a $51.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Fastenal from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $51.46.

Fastenal Profile