Entropy Technologies LP Invests $1.55 Million in Fastenal Company $FAST

Entropy Technologies LP bought a new position in shares of Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 38,618 shares of the company’s stock, valued at approximately $1,550,000.

Other large investors have also recently bought and sold shares of the company. Brasada Capital Management LP acquired a new position in Fastenal during the fourth quarter worth $4,612,000. Aptus Capital Advisors LLC boosted its stake in shares of Fastenal by 9.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 18,009 shares of the company’s stock valued at $723,000 after purchasing an additional 1,537 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $215,000. Kestra Advisory Services LLC grew its holdings in shares of Fastenal by 86.7% in the 4th quarter. Kestra Advisory Services LLC now owns 153,029 shares of the company’s stock worth $6,141,000 after purchasing an additional 71,054 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Fastenal in the 4th quarter worth about $40,452,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Trading Down 1.0%

FAST opened at $46.10 on Tuesday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The stock has a market capitalization of $52.92 billion, a PE ratio of 40.44, a PEG ratio of 2.96 and a beta of 0.73. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $45.15 and a two-hundred day moving average price of $44.31.

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. The business had revenue of $2.20 billion for 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 revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

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

Analysts Set New Price Targets

FAST has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Bank of America lifted their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. DA Davidson set a $46.00 price target on Fastenal in a research report on Monday. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $49.57.

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.