Stephens Investment Management Group LLC Boosts Stake in Fastenal Company $FAST

Stephens Investment Management Group LLC raised its position in Fastenal Company (NASDAQ:FAST) by 5.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 490,661 shares of the company’s stock after purchasing an additional 23,942 shares during the period. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $19,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new stake in Fastenal in the 3rd quarter valued at about $30,000. First Horizon Corp purchased a new stake in Fastenal in the 3rd quarter valued at about $33,000. Westfuller Advisors LLC purchased a new stake in Fastenal in the 3rd quarter valued at about $36,000. Measured Wealth Private Client Group LLC purchased a new stake in Fastenal in the 3rd quarter valued at about $36,000. Finally, Field & Main Bank purchased a new stake in Fastenal in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FAST shares. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Wolfe Research decreased their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Barclays raised their price target on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. UBS Group restated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.77.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $43.26 on Monday. The company has a 50 day moving average of $45.36 and a 200-day moving average of $43.65. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The firm has a market cap of $49.66 billion, a P/E ratio of 37.95, a PEG ratio of 2.76 and a beta of 0.75.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate 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. Fastenal’s quarterly revenue was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Announces Dividend

The firm 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 $0.24 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

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.