Xponance Inc. Has $7.38 Million Stake in Fastenal (NASDAQ:FAST)

Xponance Inc. cut its holdings in shares of Fastenal (NASDAQ:FAST) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,875 shares of the company’s stock after selling 2,402 shares during the quarter. Xponance Inc.’s holdings in Fastenal were worth $7,376,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its holdings in Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Fastenal during the 4th quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastenal in the 4th quarter valued at $35,000. Sunbelt Securities Inc. grew its holdings in Fastenal by 131.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after buying an additional 341 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Fastenal by 184.9% in the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $67.57 on Friday. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 3.53 and a beta of 1.05. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a twelve month low of $52.28 and a twelve month high of $79.04. The stock has a fifty day simple moving average of $73.62 and a 200 day simple moving average of $66.29.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts expect that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.31%. Fastenal’s payout ratio is 77.23%.

Insider Transactions at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at $414,392.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,640 shares of company stock worth $5,044,657. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FAST shares. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird lowered their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.67.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.