Investment House LLC Decreases Position in Fastenal Company $FAST

Investment House LLC cut its position in Fastenal Company (NASDAQ:FAST) by 59.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,637 shares of the company’s stock after selling 150,866 shares during the period. Investment House LLC’s holdings in Fastenal were worth $4,079,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FAST. Elyxium Wealth LLC purchased a new position in Fastenal in the fourth quarter worth about $25,000. REAP Financial Group LLC purchased a new position in Fastenal in the third quarter worth about $30,000. Field & Main Bank bought a new stake in shares of Fastenal in the fourth quarter worth approximately $30,000. Tucker Asset Management LLC purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $33,000. Finally, Tradewinds Capital Management LLC purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $35,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 1.0%

FAST opened at $43.57 on Wednesday. The firm has a 50 day moving average price of $45.23 and a 200-day moving average price of $43.68. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $50.02 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.80 and a beta of 0.75. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. Equities research analysts forecast that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FAST shares. Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Barclays boosted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.77.

Insider Transactions at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.28% of the company’s stock.

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.