Fastenal Company $FAST Stake Lessened by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC reduced its stake in Fastenal Company (NASDAQ:FAST) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,235,668 shares of the company’s stock after selling 25,693 shares during the period. Fastenal accounts for 2.8% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 10th largest position. Douglass Winthrop Advisors LLC’s holdings in Fastenal were worth $158,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the period. Sowell Financial Services LLC lifted its stake in shares of Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares during the period. Rowlandmiller & PARTNERS.ADV lifted its stake in shares of Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after purchasing an additional 250 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares in the last quarter. Finally, Harfst & Associates Inc. boosted its position in shares of Fastenal by 0.4% during the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock valued at $3,125,000 after purchasing an additional 256 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the 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. This represents a 48.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $46.59 on Thursday. 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 current ratio of 4.85 and a quick ratio of 2.41. The business has a fifty day moving average price of $44.71 and a 200-day moving average price of $44.21. The company has a market capitalization of $53.50 billion, a PE ratio of 42.35, a PEG ratio of 2.95 and a beta of 0.88.

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

Fastenal Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FAST shares. Wolfe Research increased their price objective on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Robert W. Baird upped their target price on shares of Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Morgan Stanley restated a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.83.

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.