Mcdonald Capital Investors Inc. CA Trims Holdings in Fastenal Company $FAST

Mcdonald Capital Investors Inc. CA trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 87.6% in the 1st quarter, Holdings Channel reports. The fund owned 109,280 shares of the company’s stock after selling 772,160 shares during the quarter. Fastenal accounts for about 0.3% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 18th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Fastenal were worth $5,071,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Palladiem LLC bought a new stake in Fastenal during the fourth quarter worth about $25,000. Elyxium Wealth LLC bought a new position in shares of Fastenal during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $36,000. Finally, Field & Main Bank bought a new stake in shares of Fastenal in the 4th quarter worth approximately $30,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on FAST. Barclays raised their price objective on Fastenal from $46.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the stock a “buy” rating in a research note on Monday. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a report on Thursday. Morgan Stanley set a $48.00 price target on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Robert W. Baird dropped their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.31.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $47.05 on Tuesday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The firm has a market cap of $54.02 billion, a P/E ratio of 41.27, a PEG ratio of 2.94 and a beta of 0.72. The company has a 50 day moving average of $45.60 and a 200 day moving average of $45.09. 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 (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. As a group, research analysts expect that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s dividend payout ratio is currently 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.