Vise Technologies Inc. Has $1.32 Million Stock Holdings in Fastenal Company $FAST

Vise Technologies Inc. grew its position in Fastenal Company (NASDAQ:FAST) by 50.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,785 shares of the company’s stock after purchasing an additional 11,020 shares during the period. Vise Technologies Inc.’s holdings in Fastenal were worth $1,316,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Regency Capital Management Inc. DE acquired a new position in Fastenal during the 4th quarter worth about $3,553,000. Sittner & Nelson LLC lifted its position in Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. State of Wyoming lifted its position in Fastenal by 73.8% during the 4th quarter. State of Wyoming now owns 8,059 shares of the company’s stock worth $323,000 after buying an additional 3,423 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its position in Fastenal by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock worth $322,000 after buying an additional 250 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Fastenal by 31.8% during the 4th quarter. CIBC Asset Management Inc now owns 505,817 shares of the company’s stock worth $20,298,000 after buying an additional 122,149 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $46.00 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The stock has a market cap of $52.81 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.97 and a beta of 0.73. The stock has a 50-day moving average of $45.10 and a 200-day moving average of $44.08. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $0.52 EPS. Fastenal’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Bank of America upped their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Benchmark reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.85.

About Fastenal

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.