Fastenal Company $FAST Shares Purchased by Stance Capital LLC

Stance Capital LLC raised its position in Fastenal Company (NASDAQ:FAST) by 653.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,976 shares of the company’s stock after acquiring an additional 47,676 shares during the quarter. Fastenal makes up about 1.0% of Stance Capital LLC’s holdings, making the stock its 28th biggest holding. Stance Capital LLC’s holdings in Fastenal were worth $2,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares in the last quarter. National Pension Service boosted its holdings in shares of Fastenal by 3.6% in the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after buying an additional 53,888 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Fastenal by 6.3% in the 3rd quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock valued at $181,626,000 after buying an additional 219,154 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock valued at $362,282,000 after buying an additional 90,095 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Fastenal by 7,923.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock valued at $62,222,000 after buying an additional 1,252,981 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.5%

Shares of Fastenal stock opened at $45.93 on Wednesday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The company has a market capitalization of $52.74 billion, a P/E ratio of 41.75, a PEG ratio of 2.91 and a beta of 0.88. The company’s fifty day moving average is $45.09 and its two-hundred day moving average is $44.04.

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

Fastenal Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FAST. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Barclays raised their price target on Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.83.

Insider Buying and Selling

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was 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 of the company’s stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

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.