OFI Invest Asset Management Acquires Shares of 669 Fastenal (NASDAQ:FAST)

OFI Invest Asset Management acquired a new stake in shares of Fastenal (NASDAQ:FAST) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 669 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FAST. Ashton Thomas Securities LLC bought a new position in shares of Fastenal during the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal during the third quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Fastenal during the fourth quarter valued at approximately $49,000. SBI Securities Co. Ltd. bought a new position in shares of Fastenal during the fourth quarter valued at approximately $49,000. Finally, R Squared Ltd bought a new position in shares of Fastenal during the fourth quarter valued at approximately $68,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.2 %

Shares of NASDAQ FAST opened at $79.80 on Tuesday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $45.76 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The stock’s fifty day simple moving average is $74.43 and its two-hundred day simple moving average is $75.13. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FAST shares. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Wolfe Research increased their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.