Fastenal Company $FAST Stock Holdings Boosted by Vestor Capital LLC

Key Points

• Vestor Capital increased its Fastenal stake by 746,080.4% in the third quarter, adding 343,197 shares and ending with 343,243 shares valued at about $17 million.
• Analyst opinions were mixed: seven rated Fastenal a Buy, five a Hold, and two a Sell; the consensus rating was Hold, with an average price target of $51.46.
• Fastenal beat quarterly earnings and revenue estimates, reporting $0.35 per share and $2.46 billion in revenue, up 15.5% year over year. It also declared a quarterly dividend of $0.26 per share.

Vestor Capital LLC raised its position in Fastenal Company (NASDAQ:FAST - Free Report) by 746,080.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,243 shares of the company's stock after acquiring an additional 343,197 shares during the quarter. Vestor Capital LLC's holdings in Fastenal were worth $17,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Fastenal in the second quarter worth $5,105,454,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Fastenal in the second quarter valued at $39,417,000. Baird Financial Group Inc. boosted its holdings in Fastenal by 1.2% in the second quarter. Baird Financial Group Inc. now owns 15,561,007 shares of the company's stock valued at $747,395,000 after purchasing an additional 183,238 shares during the period. NEOS Investment Management LLC boosted its holdings in Fastenal by 12.4% in the second quarter. NEOS Investment Management LLC now owns 874,887 shares of the company's stock valued at $42,021,000 after purchasing an additional 96,580 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Fastenal by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 10,347,343 shares of the company's stock valued at $496,983,000 after purchasing an additional 50,335 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird upped their price target on Fastenal from $59.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, October 15th. Weiss Ratings upgraded Fastenal from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, October 28th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a "buy" rating in a research report on Monday, July 13th. Sanford C. Bernstein restated an "underperform" rating and set a $47.00 target price (up from $42.00) on shares of Fastenal in a research note on Thursday, October 15th. Finally, Argus upped their target price on shares of Fastenal from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and an average price target of $51.46.

Fastenal Stock Up 3.0%

Shares of NASDAQ FAST opened at $54.57 on Tuesday. The company has a market capitalization of $62.61 billion, a price-to-earnings ratio of 44.01, a price-to-earnings-growth ratio of 3.19 and a beta of 0.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.93 and a quick ratio of 2.11. The business has a 50-day moving average of $50.75 and a two-hundred day moving average of $47.48. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $54.99.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. Fastenal had a return on equity of 35.13% and a net margin of 15.62%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. On average, analysts forecast that Fastenal Company will post 1.28 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, October 28th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 28th. Fastenal's dividend payout ratio is currently 83.87%.

Fastenal Profile

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