Cantillon Capital Management LLC Trims Stock Holdings in Fastenal (NASDAQ:FAST)

Cantillon Capital Management LLC reduced its stake in Fastenal (NASDAQ:FAST) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,308,021 shares of the company’s stock after selling 27,938 shares during the period. Fastenal makes up approximately 2.0% of Cantillon Capital Management LLC’s portfolio, making the stock its 24th biggest position. Cantillon Capital Management LLC owned about 1.10% of Fastenal worth $206,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Steginsky Capital LLC raised its holdings in Fastenal by 8.0% in the 3rd quarter. Steginsky Capital LLC now owns 491,270 shares of the company’s stock valued at $16,050,000 after buying an additional 36,458 shares during the period. Girard Partners LTD. increased its stake in Fastenal by 4.1% during the third quarter. Girard Partners LTD. now owns 56,495 shares of the company’s stock worth $1,845,000 after purchasing an additional 2,225 shares during the period. IFM Investors Pty Ltd increased its stake in Fastenal by 40.0% during the third quarter. IFM Investors Pty Ltd now owns 61,329 shares of the company’s stock worth $2,004,000 after purchasing an additional 17,511 shares during the period. Verity Asset Management Inc. increased its stake in Fastenal by 5.1% during the third quarter. Verity Asset Management Inc. now owns 7,256 shares of the company’s stock worth $235,000 after purchasing an additional 350 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Fastenal by 4.4% during the third quarter. LS Investment Advisors LLC now owns 29,682 shares of the company’s stock worth $970,000 after purchasing an additional 1,260 shares during the period. Hedge funds and other institutional investors own 84.20% of the company’s stock.

In other news, CAO Sheryl Ann Lisowski sold 8,750 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.35, for a total transaction of $309,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 9,350 shares of the company’s stock, valued at $330,522.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Willard D. Oberton sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $37.00, for a total value of $3,700,000.00. Following the transaction, the director now directly owns 114,194 shares of the company’s stock, valued at $4,225,178. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,031 shares of company stock valued at $6,250,224. Corporate insiders own 0.62% of the company’s stock.

FAST has been the topic of a number of recent research reports. Argus boosted their price target on shares of Fastenal to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 price target on the stock. in a research note on Monday, October 14th. Cleveland Research reiterated a “hold” rating on shares of Fastenal in a research note on Tuesday, September 24th. Raymond James lowered shares of Fastenal from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 14th. Finally, Edward Jones lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.55.

Shares of Fastenal stock opened at $37.15 on Thursday. Fastenal has a one year low of $24.60 and a one year high of $37.91. The company has a market cap of $21.39 billion, a PE ratio of 28.14, a P/E/G ratio of 1.69 and a beta of 1.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. The business has a 50-day simple moving average of $34.37 and a 200-day simple moving average of $38.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, October 24th. Fastenal’s dividend payout ratio is presently 66.67%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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