290,411 Shares in Fastenal Company $FAST Purchased by Regents Gate Capital LLP

Regents Gate Capital LLP acquired a new position in Fastenal Company (NASDAQ:FAST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 290,411 shares of the company’s stock, valued at approximately $12,197,000. Fastenal comprises about 4.3% of Regents Gate Capital LLP’s portfolio, making the stock its 3rd biggest position.

Several other large investors also recently added to or reduced their stakes in the company. Welch & Forbes LLC increased its holdings in Fastenal by 0.4% in the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock worth $2,559,000 after acquiring an additional 135 shares during the last quarter. Principal Securities Inc. raised its holdings in Fastenal by 0.9% during the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock valued at $1,142,000 after acquiring an additional 140 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares during the period. Valeo Financial Advisors LLC raised its holdings in Fastenal by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 10,495 shares of the company’s stock valued at $814,000 after acquiring an additional 153 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Fastenal by 3.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock valued at $392,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the transaction, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was bought at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the transaction, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 90,178 shares of company stock valued at $4,336,603 over the last 90 days. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Barclays set a $45.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Stephens boosted their target price on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Loop Capital reissued a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Finally, Northcoast Research initiated coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.50.

Fastenal Stock Down 1.0%

FAST opened at $41.15 on Friday. The company has a fifty day moving average price of $46.47 and a 200-day moving average price of $44.36. The firm has a market capitalization of $47.24 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 3.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. Fastenal Company has a one year low of $35.31 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. Equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th 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 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Fastenal Company 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.