MGO One Seven LLC Sells 14,328 Shares of Fastenal Company $FAST

MGO One Seven LLC trimmed its position in shares of Fastenal Company (NASDAQ:FAST) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,343 shares of the company’s stock after selling 14,328 shares during the period. MGO One Seven LLC’s holdings in Fastenal were worth $1,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. REAP Financial Group LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at $30,000. Field & Main Bank bought a new stake in shares of Fastenal during the 4th quarter valued at $30,000. First Horizon Corp bought a new stake in shares of Fastenal during the 3rd quarter valued at $33,000. Manning & Napier Advisors LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at $35,000. Finally, Tradewinds Capital Management LLC bought a new stake in shares of Fastenal during the 4th quarter valued at $35,000. 81.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal 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 transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FAST shares. Barclays increased their price objective on shares of Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Morgan Stanley reissued a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 target price on shares of Fastenal in a research note on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $49.77.

Fastenal Stock Performance

FAST opened at $43.30 on Tuesday. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.81 and a beta of 0.75. The company has a fifty day moving average of $45.57 and a 200 day moving average of $43.63. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. 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 posted its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, sell-side analysts forecast that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is presently 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.