Y.D. More Investments Ltd Raises Stock Holdings in Fastenal Company $FAST

Y.D. More Investments Ltd lifted its stake in Fastenal Company (NASDAQ:FAST) by 12,975.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,141 shares of the company’s stock after buying an additional 39,834 shares during the quarter. Y.D. More Investments Ltd’s holdings in Fastenal were worth $1,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FAST. Brighton Jones LLC bought a new stake in Fastenal during the 4th quarter worth approximately $496,000. Integrated Wealth Concepts LLC increased its stake in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Fastenal by 366.8% in the second quarter. Panagora Asset Management Inc. now owns 15,642 shares of the company’s stock worth $657,000 after purchasing an additional 12,291 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Fastenal during the 2nd quarter valued at $158,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal during the 2nd quarter valued at $27,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Price Performance

Shares of FAST stock opened at $46.30 on Monday. The stock has a market cap of $53.17 billion, a P/E ratio of 42.09, a PEG ratio of 2.94 and a beta of 0.84. The company’s fifty day simple moving average is $45.71 and its two-hundred day simple moving average is $43.77. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. Analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is currently 87.27%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FAST shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Morgan Stanley reissued a “positive” rating and set a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. UBS Group reiterated a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Five investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.08.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction 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 sale, the director 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is currently owned by corporate insiders.

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.