MQS Management LLC Acquires Shares of 18,098 Fastenal Company $FAST

MQS Management LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,098 shares of the company’s stock, valued at approximately $726,000.

A number of other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after buying an additional 147 shares in the last quarter. Founders Capital Management LLC lifted its stake in Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after buying an additional 228 shares in the last quarter. L2 Asset Management LLC lifted its stake in Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after buying an additional 248 shares in the last quarter. KLCM Advisors Inc. lifted its stake in Fastenal by 0.8% during the third quarter. KLCM Advisors Inc. now owns 33,800 shares of the company’s stock valued at $1,658,000 after buying an additional 260 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Fastenal by 1.4% in the third quarter. Quadrant Capital Group LLC now owns 19,415 shares of the company’s stock worth $952,000 after purchasing an additional 260 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $1,747,792.80. Following the transaction, 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Fastenal Trading Up 0.9%

NASDAQ:FAST opened at $43.94 on Friday. The stock’s 50 day moving average price is $45.06 and its 200 day moving average price is $43.72. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a market capitalization of $50.44 billion, a P/E ratio of 38.54, a P/E/G ratio of 2.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Fastenal’s dividend payout ratio is currently 84.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FAST. Wolfe Research reduced their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Barclays increased their price target on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Robert W. Baird reduced their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.77.

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.