Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in Fastenal Company $FAST

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Fastenal Company (NASDAQ:FAST) by 60.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 663,958 shares of the company’s stock after selling 1,015,353 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of Fastenal worth $26,645,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. KCM Investment Advisors LLC boosted its holdings in Fastenal by 21.9% during the 4th quarter. KCM Investment Advisors LLC now owns 12,338 shares of the company’s stock valued at $495,000 after acquiring an additional 2,220 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Fastenal in the 4th quarter worth $1,266,000. Eventide Asset Management LLC lifted its holdings in shares of Fastenal by 1.0% in the 4th quarter. Eventide Asset Management LLC now owns 777,666 shares of the company’s stock worth $31,272,000 after buying an additional 7,910 shares during the period. Entropy Technologies LP purchased a new stake in shares of Fastenal in the 4th quarter worth $1,550,000. Finally, Brasada Capital Management LP purchased a new stake in shares of Fastenal in the 4th quarter worth $4,612,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James Financial set a $48.00 target price on Fastenal in a report on Thursday, March 5th. Bank of America upped their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Morgan Stanley reiterated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Wolfe Research lowered their target price on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Finally, DA Davidson set a $46.00 target price on Fastenal in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $49.57.

Fastenal Trading Down 1.0%

FAST opened at $46.10 on Tuesday. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.96 and a beta of 0.73. The company has a current ratio of 4.39, a quick ratio of 2.34 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 stock has a fifty day moving average price of $45.15 and a 200-day moving average price of $44.31.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

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.