GSA Capital Partners LLP Invests $1.45 Million in Fastenal Company $FAST

GSA Capital Partners LLP acquired a new stake in Fastenal Company (NASDAQ:FAST) in the second quarter, Holdings Channel.com reports. The firm acquired 30,155 shares of the company’s stock, valued at approximately $1,448,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FAST. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Tandem Investment Advisors Inc. grew its position in shares of Fastenal by 1.8% during the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after purchasing an additional 224 shares in the last quarter. Sittner & Nelson LLC increased its holdings in shares of Fastenal by 0.3% in the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after purchasing an additional 226 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Fastenal by 12.9% in the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after purchasing an additional 232 shares during the period. Finally, L2 Asset Management LLC raised its position in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after buying an additional 248 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FAST. Barclays reduced their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Robert W. Baird set a $54.00 price target on Fastenal in a report on Friday, August 7th. Wolfe Research reiterated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. DA Davidson reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, July 13th. Five 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.17.

Insider Transactions at Fastenal

In other news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Fastenal stock opened at $51.02 on Monday. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $52.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The stock has a market cap of $58.55 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.72. The firm’s fifty day moving average price is $47.47 and its 200-day moving average price is $46.12.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. On average, equities research analysts expect that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. This is an increase from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s dividend payout ratio is presently 88.14%.

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.