O Shaughnessy Asset Management LLC Reduces Position in Fastenal Company $FAST

O Shaughnessy Asset Management LLC trimmed its stake in Fastenal Company (NASDAQ:FAST) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,790 shares of the company’s stock after selling 26,716 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Fastenal were worth $19,174,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FAST. Manchester Capital Management LLC raised its stake in shares of Fastenal by 123.8% in the fourth quarter. Manchester Capital Management LLC now owns 931 shares of the company’s stock worth $37,000 after buying an additional 515 shares during the period. Palladiem LLC bought a new position in shares of Fastenal during the 4th quarter valued at approximately $25,000. Syon Capital LLC increased its holdings in Fastenal by 68.6% in the 4th quarter. Syon Capital LLC now owns 23,584 shares of the company’s stock worth $946,000 after acquiring an additional 9,594 shares in the last quarter. Modus Advisors LLC bought a new stake in Fastenal during the 4th quarter worth approximately $85,000. Finally, Longfellow Investment Management Co. LLC purchased a new position in Fastenal during the fourth quarter valued at approximately $455,000. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on FAST shares. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Sanford C. Bernstein restated an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. JPMorgan Chase & Co. boosted their price target on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Robert W. Baird dropped their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $49.85.

Fastenal Stock Down 1.7%

FAST opened at $46.00 on Tuesday. The firm has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $44.08. 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 $52.81 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.97 and a beta of 0.73. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Analysts forecast that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s payout ratio is presently 84.21%.

About Fastenal

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.