Fulton Bank N.A. Purchases 18,935 Shares of Fastenal Company $FAST

Fulton Bank N.A. increased its holdings in Fastenal Company (NASDAQ:FAST) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,549 shares of the company’s stock after purchasing an additional 18,935 shares during the quarter. Fulton Bank N.A.’s holdings in Fastenal were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. Secured Retirement Advisors LLC increased its position in shares of Fastenal by 17.6% during the first quarter. Secured Retirement Advisors LLC now owns 6,478 shares of the company’s stock valued at $301,000 after buying an additional 969 shares during the period. IFM Investors Pty Ltd raised its holdings in Fastenal by 3.2% in the first quarter. IFM Investors Pty Ltd now owns 234,397 shares of the company’s stock worth $10,876,000 after purchasing an additional 7,195 shares in the last quarter. iA Global Asset Management Inc. lifted its position in Fastenal by 2.9% during the first quarter. iA Global Asset Management Inc. now owns 185,891 shares of the company’s stock valued at $8,625,000 after buying an additional 5,316 shares during the period. Ellenbecker Investment Group lifted its position in Fastenal by 574.6% during the first quarter. Ellenbecker Investment Group now owns 89,698 shares of the company’s stock valued at $4,162,000 after buying an additional 76,401 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its holdings in shares of Fastenal by 40.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 16,574 shares of the company’s stock valued at $769,000 after buying an additional 4,747 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FAST shares. JPMorgan Chase & Co. upped their target price 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. Wolfe Research lowered their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. DA Davidson initiated coverage on shares of Fastenal in a research note on Tuesday, June 16th. They set a “neutral” rating and a $46.00 target price for the company. Finally, Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday, March 5th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.57.

Fastenal Trading Down 0.6%

NASDAQ FAST opened at $47.75 on Thursday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The stock has a market cap of $54.82 billion, a P/E ratio of 41.89, a P/E/G ratio of 3.06 and a beta of 0.72. The stock’s fifty day moving average price is $45.20 and its 200-day moving average price is $44.79. 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) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion during 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%.Fastenal’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, equities analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued 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 2.0%. Fastenal’s payout ratio is 84.21%.

Fastenal 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.