Concurrent Investment Advisors LLC Has $641,000 Stock Position in Fastenal (NASDAQ:FAST)

Concurrent Investment Advisors LLC lowered its position in shares of Fastenal (NASDAQ:FAST) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,920 shares of the company’s stock after selling 457 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Fastenal were worth $641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. King Luther Capital Management Corp raised its stake in Fastenal by 1.6% in the third quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock valued at $619,000 after purchasing an additional 136 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares in the last quarter. HB Wealth Management LLC raised its stake in Fastenal by 1.2% in the fourth quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock valued at $840,000 after purchasing an additional 142 shares in the last quarter. Catalina Capital Group LLC raised its stake in Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Fastenal by 1.8% in the third quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock valued at $653,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of a number of analyst reports. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Stifel Nicolaus decreased their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Jefferies Financial Group boosted their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Performance

NASDAQ:FAST opened at $74.78 on Monday. The company has a market capitalization of $42.88 billion, a PE ratio of 37.20, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a 50 day simple moving average of $74.22 and a two-hundred day simple moving average of $74.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. Research analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

About Fastenal

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.