Other hedge funds have also adjusted their positions in FAST. Vanguard Group Inc. increased its stake by 1.4% in the first quarter, now owning 73,317,271 shares worth $5,685,754,000 after acquiring an additional 1,016,479 shares. Charles Schwab Investment Management Inc. raised its holdings by 8.9%, owning 22,615,915 shares valued at $1,753,864,000 after purchasing 1,850,871 shares. Baird Financial Group Inc. grew its position by 1.7%, now holding 8,418,765 shares worth $652,875,000 after buying 142,972 shares. Principal Financial Group Inc. increased its stake by 2.6%, owning 6,591,850 shares valued at $511,198,000 after acquiring 168,830 shares. Lastly, UBS AM, a distinct business unit of UBS Asset Management Americas LLC, raised its stake by 11.5%, now owning 5,933,636 shares valued at $460,153,000 after purchasing 613,254 shares. Currently, 81.38% of Fastenal’s stock is held by hedge funds and institutional investors.<\/p>\n FAST<\/a> opened at $48.70 on Monday. The company has a 12-month low of $34.69 and a high of $50.63. Fastenal’s current ratio stands at 4.22, with a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The 50-day moving average price is $48.07, while the 200-day moving average price is $43.27. Fastenal boasts a market cap of $55.89 billion, a P\/E ratio of 46.83, a P\/E\/G ratio of 4.43, and a beta of 0.97.<\/p>\n Fastenal (NASDAQ:FAST<\/a> \u2013 Get Free Report<\/a>) reported its earnings results on July 14th. The company posted earnings of $0.29 per share, surpassing the consensus estimate of $0.28 by $0.01. Fastenal generated revenue of $2.08 billion, slightly above analysts\u2019 expectations of $2.07 billion. The company achieved a return on equity of 32.33% and a net margin of 15.30%, with quarterly revenue up 8.6% compared to the same quarter last year. Analysts predict Fastenal will post an EPS of 2.15 for the current year.<\/p>\n The company recently announced a quarterly dividend, paid on August 26th. Shareholders of record on July 29th received a $0.22 dividend, resulting in an annualized dividend of $0.88 and a yield of 1.8%. Fastenal’s payout ratio currently stands at 84.62%.<\/p>\n In other news, EVP William Joseph Drazkowski<\/a> sold 6,842 shares on August 15th at an average price of $48.67, totaling $333,000.14. Following this transaction, he owns 11,994 shares valued at approximately $583,747.98, marking a 36.32% decrease in his position. CFO Sheryl Ann Lisowski<\/a> also sold 21,052 shares on July 17th at an average price of $45.21, totaling $951,760.92. After this sale, she owns 10,192 shares valued at $460,780.32, a 67.38% decrease in her ownership. In the past three months, insiders have sold 111,230 shares valued at $5,288,364, with insiders currently owning 0.37% of the stock.<\/p>\n Several analysts have recently commented on FAST shares. Wolfe Research reiterated a \u201cpositive\u201d rating on July 14th. Morgan Stanley set a $40.00 target price with an \u201cequal weight\u201d rating on July 3rd. Stifel Nicolaus established an $82.00 price target on the same day. Northcoast Research initiated coverage with a \u201cneutral\u201d rating on August 21st. Stephens raised their target price from $40.00 to $45.00, maintaining an \u201cequal weight\u201d rating on July 15th. Overall, one analyst rates the stock as a Strong Buy, four as Buy, eight as Hold, and one as Sell, resulting in an average rating of \u201cHold\u201d and a consensus target price of $46.82.<\/p>\n Get Our Latest Analysis on FAST<\/a><\/b><\/p>\n![\"Fastenal](\"https:\/\/www.marketbeat.com\/logos\/fastenal-logo-1200x675.jpg\"){kind=logo}
Patton Fund Management Inc. has recently acquired a new stake in Fastenal Company (NASDAQ:FAST<\/a> \u2013 Free Report<\/a>) during the second quarter, as per its latest SEC filing. The institutional investor purchased 5,456 shares, valued at approximately $229,000.<\/p>\nFastenal Stock Up 1.8%<\/h2>\n
Fastenal Cuts Dividend<\/h2>\n
Insider Activity<\/h2>\n
Wall Street Analysts Forecast Growth<\/h2>\n
Fastenal Company Profile<\/h2>\n