MGO One Seven LLC Reduces Stock Position in Fastenal Company $FAST

MGO One Seven LLC reduced its holdings in Fastenal Company (NASDAQ:FAST) by 27.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FAST. Vanguard Group Inc. boosted its stake in shares of Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. National Pension Service boosted its stake in shares of Fastenal by 3.6% during the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company’s stock worth $76,433,000 after purchasing an additional 53,888 shares during the period. Nordea Investment Management AB boosted its stake in shares of Fastenal by 6.3% during the 3rd quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock worth $181,626,000 after purchasing an additional 219,154 shares during the period. Franklin Resources Inc. boosted its stake in shares of Fastenal by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock worth $362,282,000 after purchasing an additional 90,095 shares during the period. Finally, BlueStem Wealth Partners LLC purchased a new position in shares of Fastenal during the 3rd quarter worth about $634,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal 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 completion of the sale, the director owned 40,000 shares in the company, 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 through the SEC website. 0.28% of the stock is owned by insiders.

Fastenal Trading Down 2.0%

Shares of FAST opened at $43.30 on Tuesday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The company has a 50-day moving average of $45.57 and a 200 day moving average of $43.63. The firm 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 debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $0.52 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FAST shares. Morgan Stanley reaffirmed a “positive” rating and set a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research note on Thursday, March 5th. UBS Group reaffirmed a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Robert W. Baird dropped their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research note on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have assigned 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 an average rating of “Hold” and an average target price of $49.77.

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.