Douglass Winthrop Advisors LLC Has $158.68 Million Stock Position in Fastenal Company $FAST

Douglass Winthrop Advisors LLC reduced its holdings in Fastenal Company (NASDAQ:FAST) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,235,668 shares of the company’s stock after selling 25,693 shares during the quarter. Fastenal accounts for about 2.8% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 10th largest position. Douglass Winthrop Advisors LLC owned 0.28% of Fastenal worth $158,677,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after buying an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its position in shares of Fastenal by 1.7% during the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after buying an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the last quarter. Finally, Harfst & Associates Inc. grew its position in Fastenal by 0.4% in the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after acquiring an additional 256 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Fastenal Stock Up 0.6%

Shares of NASDAQ FAST opened at $46.59 on Thursday. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average is $44.71 and its 200 day moving average is $44.21. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Finally, Wolfe Research lifted their price objective on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.83.

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.