Corient Private Wealth LLC Has $25.17 Million Stock Position in Fastenal Company $FAST

Corient Private Wealth LLC increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 4.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 627,063 shares of the company’s stock after purchasing an additional 25,360 shares during the period. Corient Private Wealth LLC’s holdings in Fastenal were worth $25,171,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Elyxium Wealth LLC acquired a new stake in Fastenal in the fourth quarter valued at approximately $25,000. Palladiem LLC acquired a new position in shares of Fastenal during the fourth quarter worth $25,000. MV Capital Management Inc. acquired a new position in shares of Fastenal during the fourth quarter worth $29,000. Field & Main Bank bought a new position in shares of Fastenal in the 4th quarter valued at $30,000. Finally, Tucker Asset Management LLC bought a new position in shares of Fastenal in the 4th quarter valued at $33,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ FAST opened at $46.12 on Tuesday. The company has a market capitalization of $52.95 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 2.92 and a beta of 0.73. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a fifty day simple moving average of $45.02 and a 200 day simple moving average of $44.50.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. Fastenal’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

Analyst Ratings Changes

FAST has been the topic of a number of research reports. Wolfe Research reduced their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Morgan Stanley reissued a “positive” rating and set a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Bank of America upped their price objective on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $49.57.

Fastenal Company 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.