Fastenal Company $FAST Position Boosted by Madison Asset Management LLC

Madison Asset Management LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 46.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,279 shares of the company’s stock after purchasing an additional 115,045 shares during the period. Madison Asset Management LLC’s holdings in Fastenal were worth $14,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. REAP Financial Group LLC acquired a new stake in shares of Fastenal during the 3rd quarter valued at $30,000. Field & Main Bank acquired a new stake in shares of Fastenal during the 4th quarter valued at $30,000. First Horizon Corp acquired a new stake in shares of Fastenal during the 3rd quarter valued at $33,000. Manning & Napier Advisors LLC acquired a new stake in shares of Fastenal during the 3rd quarter valued at $35,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the transaction, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on FAST. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. UBS Group restated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Finally, Wolfe Research lowered their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $49.77.

Fastenal Stock Performance

FAST stock opened at $43.32 on Wednesday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The firm has a 50 day moving average of $45.52 and a two-hundred day moving average of $43.63. The company has a market capitalization of $49.73 billion, a price-to-earnings ratio of 38.00, a P/E/G ratio of 2.76 and a beta of 0.75. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share 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 company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s payout ratio is currently 84.21%.

Fastenal Company 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.