Fastenal Company $FAST Stock Sold by Compass Capital Management Inc.

Compass Capital Management Inc. lessened its position in Fastenal Company (NASDAQ:FAST) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,157,957 shares of the company’s stock after selling 65,745 shares during the period. Fastenal accounts for about 3.6% of Compass Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Compass Capital Management Inc. owned about 0.10% of Fastenal worth $57,354,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $26,000. Evergreen Advisors LLC bought a new position in shares of Fastenal during the first quarter valued at $26,000. Independence Bank of Kentucky bought a new position in shares of Fastenal during the third quarter valued at $30,000. Frazier Financial Advisors LLC acquired a new position in shares of Fastenal during the second quarter worth $38,000. Finally, Paladin Partners LLC acquired a new position in shares of Fastenal during the second quarter worth $39,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

Shares of FAST opened at $55.19 on Friday. The company has a current ratio of 3.93, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $51.26 and its two-hundred day simple moving average is $47.71. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $56.27. The stock has a market capitalization of $63.32 billion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 3.32 and a beta of 0.66.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Fastenal had a return on equity of 35.13% and a net margin of 15.62%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $0.29 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts predict that Fastenal Company will post 1.28 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $1.04 annualized dividend and a yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is currently 83.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FAST shares. William Blair restated an “outperform” rating on shares of Fastenal in a report on Friday, September 4th. Argus lifted their target price on Fastenal from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Weiss Ratings lowered Fastenal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Sanford C. Bernstein reiterated an “underperform” rating and issued a $47.00 price target (up from $42.00) on shares of Fastenal in a research report on Thursday, October 15th. Finally, Wolfe Research began coverage on Fastenal in a research note on Tuesday, September 15th. They issued an “underperform” rating and a $51.00 price target for the company. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.46.

Fastenal Profile

Fastenal Company is a distributor of industrial and construction supplies, serving businesses that need products to maintain facilities, support production and complete building projects. Its offerings include fasteners such as screws, nuts and bolts, as well as safety supplies, tools and other maintenance, repair and operations products. In addition to product distribution, Fastenal provides services designed to help customers manage supplies and purchasing. These include inventory management, on-site support and industrial vending solutions that make frequently used items available at customer facilities.