Commerzbank Aktiengesellschaft FI Acquires Shares of 2,803 Fastenal (NASDAQ:FAST)

Commerzbank Aktiengesellschaft FI bought a new position in Fastenal (NASDAQ:FAST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,803 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fastenal by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company’s stock valued at $1,493,214,000 after acquiring an additional 886,999 shares in the last quarter. Geode Capital Management LLC lifted its stake in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after acquiring an additional 880,372 shares during the period. Benjamin Edwards Inc. boosted its holdings in Fastenal by 1,789.1% in the third quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock valued at $38,262,000 after acquiring an additional 507,364 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Fastenal during the 4th quarter valued at $29,443,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research report on Wednesday, December 11th. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research upped their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group upped their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Trading Up 4.5 %

NASDAQ FAST opened at $77.85 on Friday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. 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’s fifty day moving average price is $74.13 and its 200-day moving average price is $74.84. The stock has a market cap of $44.64 billion, a P/E ratio of 38.73, a P/E/G ratio of 3.58 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. As a group, equities analysts forecast 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. Investors of record on Friday, January 31st were given a $0.43 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.21%. Fastenal’s dividend payout ratio is 85.57%.

Fastenal Profile

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.