UniSuper Management Pty Ltd Has $11.09 Million Stock Holdings in Fastenal (NASDAQ:FAST)

UniSuper Management Pty Ltd raised its stake in Fastenal (NASDAQ:FAST) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,146 shares of the company’s stock after purchasing an additional 7,662 shares during the period. UniSuper Management Pty Ltd’s holdings in Fastenal were worth $11,085,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Fastenal in the 4th quarter valued at about $46,000. Whipplewood Advisors LLC acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $49,000. R Squared Ltd acquired a new stake in Fastenal during the 4th quarter worth approximately $68,000. Finally, Eastern Bank lifted its holdings in Fastenal by 440.7% during the 4th quarter. Eastern Bank now owns 984 shares of the company’s stock worth $71,000 after purchasing an additional 802 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

Fastenal stock opened at $77.73 on Friday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock has a market cap of $44.57 billion, a PE ratio of 38.67, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The business’s 50-day moving average price is $75.35 and its two-hundred day moving average price is $75.83.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analyst Ratings Changes

FAST has been the topic of several recent research reports. 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 report on Friday, December 6th. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Stifel Nicolaus dropped their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Wolfe Research increased their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Company 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.