32,789 Shares in Fastenal Company $FAST Purchased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC bought a new position in shares of Fastenal Company (NASDAQ:FAST) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,789 shares of the company’s stock, valued at approximately $1,521,000.

A number of other hedge funds also recently added to or reduced their stakes in FAST. State Street Corp boosted its position in Fastenal by 1.2% during the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock worth $2,196,502,000 after purchasing an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after purchasing an additional 919,158 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after buying an additional 685,047 shares in the last quarter. Invesco Ltd. increased its position in shares of Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after buying an additional 2,242,116 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Fastenal during the 4th quarter worth $646,046,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 1.3%

Shares of NASDAQ FAST opened at $46.51 on Thursday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The firm’s 50 day moving average price is $45.47 and its 200 day moving average price is $44.99. The firm has a market cap of $53.40 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

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

Fastenal Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on FAST. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Barclays lifted their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley set a $48.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday. Bank of America increased their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Finally, Robert W. Baird cut their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $47.58.

About Fastenal

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.