Fastenal Company $FAST Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 88.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 55,394 shares of the company’s stock after selling 435,992 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fastenal were worth $2,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in Fastenal in the fourth quarter valued at approximately $25,000. REAP Financial Group LLC acquired a new position in Fastenal in the third quarter valued at approximately $30,000. Field & Main Bank acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $30,000. Tucker Asset Management LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $33,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $35,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FAST. Bank of America increased their price objective on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Robert W. Baird decreased their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $49.85.

Fastenal Price Performance

Fastenal stock opened at $46.58 on Wednesday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The business has a 50 day simple moving average of $45.13 and a 200-day simple moving average of $44.12. The stock has a market capitalization of $53.48 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a $0.24 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio is presently 84.21%.

About Fastenal

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.