Blair William & Co. IL Purchases 49,102 Shares of Fastenal Company $FAST

Blair William & Co. IL grew its position in Fastenal Company (NASDAQ:FAST) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,014,666 shares of the company’s stock after acquiring an additional 49,102 shares during the quarter. Fastenal accounts for 0.8% of Blair William & Co. IL’s portfolio, making the stock its 25th biggest holding. Blair William & Co. IL owned approximately 0.61% of Fastenal worth $281,499,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FAST. Norges Bank bought a new stake in Fastenal in the 4th quarter worth approximately $646,046,000. Bank of America Corp DE increased its stake in Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after acquiring an additional 7,943,217 shares during the last quarter. Vanguard Group Inc. increased its stake in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares during the last quarter. Invesco Ltd. increased its stake in Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after acquiring an additional 2,242,116 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Fastenal by 1,039.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after acquiring an additional 2,132,593 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on FAST shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Benchmark reiterated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Wolfe Research dropped their target price on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. DA Davidson set a $46.00 target price on Fastenal and gave the stock a “neutral” rating in a report on Monday. Finally, Robert W. Baird dropped their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.57.

Fastenal Price Performance

Shares of FAST stock opened at $46.05 on Wednesday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $52.87 billion, a price-to-earnings ratio of 40.40, a P/E/G ratio of 2.93 and a beta of 0.73. The stock has a fifty day simple moving average of $45.14 and a two-hundred day simple moving average of $44.35. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts predict that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 84.21%.

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.