Fastenal Company $FAST Shares Bought by Castleark Management LLC

Castleark Management LLC grew its position in Fastenal Company (NASDAQ:FAST) by 2,048.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,690 shares of the company’s stock after purchasing an additional 141,770 shares during the quarter. Castleark Management LLC’s holdings in Fastenal were worth $6,899,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FAST. Wiregrass Investment Management LLC acquired a new position in Fastenal during the 4th quarter valued at approximately $1,020,000. Swiss Life Asset Management Ltd raised its holdings in shares of Fastenal by 2.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,491,994 shares of the company’s stock worth $59,874,000 after buying an additional 39,406 shares during the last quarter. LBP AM SA lifted its stake in shares of Fastenal by 11.8% during the fourth quarter. LBP AM SA now owns 232,847 shares of the company’s stock worth $9,344,000 after buying an additional 24,536 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in shares of Fastenal during the fourth quarter valued at $4,041,000. Finally, National Pension Service grew its holdings in shares of Fastenal by 2.9% during the fourth quarter. National Pension Service now owns 1,603,839 shares of the company’s stock valued at $64,362,000 after buying an additional 45,260 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

NASDAQ:FAST opened at $47.02 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The company’s fifty day moving average price is $45.92 and its 200-day moving average price is $45.38. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The firm has a market capitalization of $53.96 billion, a P/E ratio of 39.85, a PEG ratio of 2.94 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal Company will post 1.25 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a $0.26 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. Fastenal’s payout ratio is presently 81.36%.

Analyst Ratings Changes

FAST has been the topic of several research reports. Weiss Ratings downgraded Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. DA Davidson reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, July 15th. Barclays cut their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and issued a $47.00 price objective on shares of Fastenal in a research note on Thursday, July 9th. Finally, Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the stock a “buy” rating in a report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $48.83.

Fastenal 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.