Fastenal Company $FAST Shares Sold by Steginsky Capital LLC

Steginsky Capital LLC decreased its stake in Fastenal Company (NASDAQ:FAST) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,440,322 shares of the company’s stock after selling 14,721 shares during the period. Fastenal comprises about 13.0% of Steginsky Capital LLC’s holdings, making the stock its 5th largest holding. Steginsky Capital LLC owned about 0.13% of Fastenal worth $70,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAST. Twin Peaks Wealth Advisors LLC bought a new position in shares of Fastenal in the 2nd quarter valued at $27,000. MV Capital Management Inc. increased its holdings in Fastenal by 96.1% in the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in shares of Fastenal in the third quarter valued at approximately $30,000. Finally, First Horizon Corp bought a new position in Fastenal in the 3rd quarter valued at approximately $33,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.6%

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

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. Fastenal’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Equities 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 issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Insider Activity at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated 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 transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This 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.

Analysts Set New Price Targets

A number of research firms have weighed in on FAST. UBS Group reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, January 21st. Raymond James Financial set a $48.00 price target on shares of Fastenal in a report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Five research 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. Based on data from MarketBeat.com, the company presently has a consensus 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.