Rockefeller Capital Management L.P. Boosts Holdings in Fastenal (NASDAQ:FAST)

Rockefeller Capital Management L.P. lifted its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,159 shares of the company's stock after acquiring an additional 4,012 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Fastenal were worth $6,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Fastenal during the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC bought a new stake in Fastenal during the 4th quarter valued at $49,000. SBI Securities Co. Ltd. purchased a new position in shares of Fastenal in the 4th quarter valued at $49,000. R Squared Ltd bought a new position in shares of Fastenal in the 4th quarter worth $68,000. Finally, Eastern Bank lifted its stake in shares of 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. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

NASDAQ:FAST traded up $0.19 during mid-day trading on Wednesday, hitting $81.63. The company's stock had a trading volume of 1,098,662 shares, compared to its average volume of 3,081,293. The business's fifty day moving average is $76.55 and its two-hundred day moving average is $76.82. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.52 earnings per share. Fastenal's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.16%. This is a positive change from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, April 25th. Fastenal's payout ratio is 87.56%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stephens increased their price objective on Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, April 15th. Robert W. Baird boosted their target price on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, April 14th. Finally, Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and a consensus target price of $79.10.

Insider Activity at Fastenal

In related news, EVP William Joseph Drazkowski sold 15,000 shares of Fastenal stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the completion of the transaction, the executive vice president now owns 5,997 shares in the company, valued at $487,616.07. The trade was a 71.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company's stock.

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.