Meadowbrook Advisors Group LLC Buys New Shares in Fastenal Company $FAST

Meadowbrook Advisors Group LLC purchased a new position in shares of Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,460 shares of the company’s stock, valued at approximately $901,000.

A number of other large investors also recently bought and sold shares of FAST. Elyxium Wealth LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at $25,000. Palladiem LLC acquired a new stake in shares of Fastenal during the 4th quarter worth $25,000. MV Capital Management Inc. purchased a new position in shares of Fastenal in the 4th quarter worth $29,000. Field & Main Bank purchased a new position in shares of Fastenal in the 4th quarter worth $30,000. Finally, Tucker Asset Management LLC acquired a new position in Fastenal in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of a number of research reports. DA Davidson assumed coverage on Fastenal in a research report on Tuesday. They set a “neutral” rating and a $46.00 price target for the company. Wolfe Research cut their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. JPMorgan Chase & Co. boosted their target price on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.57.

Fastenal Stock Up 0.0%

Shares of Fastenal stock opened at $45.91 on Friday. The company has a fifty day moving average price of $45.08 and a 200 day moving average price of $44.43. 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 Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market cap of $52.70 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. Equities research analysts forecast that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

Fastenal Company Profile

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.