Y Intercept Hong Kong Ltd Has $4.65 Million Stock Position in Fastenal Company $FAST

Y Intercept Hong Kong Ltd lifted its position in Fastenal Company (NASDAQ:FAST) by 249.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,194 shares of the company’s stock after buying an additional 71,551 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fastenal were worth $4,649,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Fastenal by 63.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 475,385 shares of the company’s stock worth $22,058,000 after acquiring an additional 185,350 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Fastenal in the first quarter worth about $1,698,000. Sound Income Strategies LLC increased its holdings in shares of Fastenal by 12.9% in the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after acquiring an additional 232 shares in the last quarter. KPP Advisory Services LLC raised its position in shares of Fastenal by 4.3% during the first quarter. KPP Advisory Services LLC now owns 17,783 shares of the company’s stock worth $825,000 after purchasing an additional 731 shares during the period. Finally, Root Financial Partners LLC raised its position in shares of Fastenal by 21.6% during the first quarter. Root Financial Partners LLC now owns 2,340 shares of the company’s stock worth $109,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $48.60 on Monday. The firm has a market cap of $55.79 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 3.10 and a beta of 0.72. The stock’s 50-day moving average is $45.34 and its 200-day moving average is $44.88. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data 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 the consensus estimate of $2.19 billion. During the same period last year, the company earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts predict that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on FAST. Barclays set a $46.00 price objective on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Bank of America upped their price target on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $47.08.

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.