Trexquant Investment LP Makes New Investment in Fastenal (NASDAQ:FAST)

Trexquant Investment LP bought a new position in Fastenal (NASDAQ:FAST) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 63,094 shares of the company’s stock, valued at approximately $1,972,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Fastenal in the fourth quarter valued at $217,422,000. Janus Henderson Group PLC increased its holdings in shares of Fastenal by 128.6% in the fourth quarter. Janus Henderson Group PLC now owns 5,653,574 shares of the company’s stock valued at $208,899,000 after buying an additional 3,180,349 shares in the last quarter. Madison Asset Management LLC bought a new position in shares of Fastenal in the fourth quarter valued at $77,320,000. BlackRock Inc. increased its holdings in shares of Fastenal by 3.6% in the first quarter. BlackRock Inc. now owns 45,116,444 shares of the company’s stock valued at $1,409,891,000 after buying an additional 1,577,504 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new position in shares of Fastenal in the fourth quarter valued at $39,486,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

NASDAQ FAST opened at $38.68 on Friday. Fastenal has a 1-year low of $26.72 and a 1-year high of $40.46. The company has a current ratio of 4.25, a quick ratio of 1.93 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $22.17 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.16. The firm’s fifty day simple moving average is $35.71 and its 200-day simple moving average is $35.74.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Fastenal had a net margin of 14.83% and a return on equity of 30.71%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Fastenal’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Fastenal will post 1.3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, April 27th. Fastenal’s dividend payout ratio is presently 72.46%.

In other Fastenal news, VP Leland J. Hein sold 2,500 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $35.50, for a total transaction of $88,750.00. Following the completion of the sale, the vice president now directly owns 10,111 shares in the company, valued at $358,940.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Joseph Drazkowski sold 7,142 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $39.40, for a total transaction of $281,394.80. Following the sale, the insider now owns 12,722 shares of the company’s stock, valued at $501,246.80. The disclosure for this sale can be found here. Insiders sold 87,733 shares of company stock valued at $3,397,099 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Several research firms have issued reports on FAST. Morgan Stanley upped their price target on Fastenal from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. ValuEngine raised shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Stephens boosted their target price on shares of Fastenal from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Finally, Wells Fargo & Co raised shares of Fastenal from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Thursday, March 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $71.30.

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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