Sumitomo Mitsui Trust Group Inc. decreased its position in Fastenal Company (NASDAQ:FAST - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,821,089 shares of the company's stock after selling 250,372 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Fastenal worth $130,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Elyxium Wealth LLC bought a new stake in Fastenal in the fourth quarter worth $25,000. Palladiem LLC bought a new position in Fastenal during the fourth quarter valued at $25,000. MV Capital Management Inc. purchased a new position in shares of Fastenal in the 4th quarter worth $29,000. Field & Main Bank bought a new stake in shares of Fastenal in the 4th quarter worth about $30,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at about $33,000. 81.38% of the stock is owned by hedge funds and other institutional investors.
Fastenal Trading Up 0.3%
Shares of FAST stock traded up $0.14 during trading hours on Friday, reaching $46.49. 7,590,310 shares of the stock were exchanged, compared to its average volume of 6,944,334. The firm has a market capitalization of $53.37 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The company's 50-day moving average price is $45.55 and its 200-day moving average price is $45.02. 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 - Get Free Report) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages recently commented on FAST. DA Davidson started coverage on shares of Fastenal in a report on Tuesday, June 16th. They issued a "neutral" rating and a $46.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fastenal in a research note on Wednesday. Sanford C. Bernstein reiterated an "underperform" rating and issued a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Finally, Morgan Stanley set a $48.00 target price on Fastenal and gave the company an "equal weight" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $47.75.
Check Out Our Latest Analysis on FAST
Fastenal Company Profile
(
Free Report)
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.
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