Allstate Corp Takes $1.21 Million Position in Fastenal (NASDAQ:FAST)

Allstate Corp acquired a new position in Fastenal (NASDAQ:FAST) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,800 shares of the company’s stock, valued at approximately $1,208,000.

Several other large investors have also recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its stake in shares of Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after purchasing an additional 142 shares in the last quarter. Cozad Asset Management Inc. grew its position in Fastenal by 5.5% in the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company’s stock valued at $215,000 after buying an additional 155 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company’s stock valued at $504,000 after buying an additional 164 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Fastenal by 8.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,038 shares of the company’s stock worth $147,000 after buying an additional 166 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in shares of Fastenal by 1.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 14,270 shares of the company’s stock worth $1,026,000 after acquiring an additional 177 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 2.0 %

FAST stock opened at $76.17 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm has a market capitalization of $43.68 billion, a P/E ratio of 37.90, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company’s 50 day simple moving average is $75.35 and its 200-day simple moving average is $75.98.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. As a group, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is currently 85.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Stifel Nicolaus lowered their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.91.

Fastenal 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.