Fastenal Company $FAST Shares Bought by Steginsky Capital LLC

Steginsky Capital LLC boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 10.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,595,087 shares of the company’s stock after acquiring an additional 154,765 shares during the period. Fastenal comprises 10.8% of Steginsky Capital LLC’s investment portfolio, making the stock its 5th biggest holding. Steginsky Capital LLC’s holdings in Fastenal were worth $64,011,000 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 FAST. Bank of America Corp DE grew its holdings in Fastenal by 106.1% during the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after acquiring an additional 7,943,217 shares in the last quarter. Vanguard Group Inc. grew its holdings in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares in the last quarter. Invesco Ltd. grew its holdings in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after acquiring an additional 2,242,116 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Fastenal by 1,039.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after acquiring an additional 2,132,593 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Fastenal by 90.7% during the 3rd quarter. American Century Companies Inc. now owns 3,590,292 shares of the company’s stock worth $176,068,000 after acquiring an additional 1,707,396 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of the company’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 completion of the sale, the director owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays boosted their price target on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Benchmark restated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. UBS Group restated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Bank of America boosted their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Five equities 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.77.

Fastenal Stock Down 1.6%

Shares of NASDAQ:FAST opened at $43.26 on Friday. The company has a market capitalization of $49.66 billion, a PE ratio of 37.95, a P/E/G ratio of 2.80 and a beta of 0.75. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The firm has a 50 day simple moving average of $45.36 and a 200-day simple moving average of $43.64.

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

Fastenal Announces Dividend

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

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.