Fastenal Company $FAST is Caledonia Investments PLC’s 6th Largest Position

Caledonia Investments PLC trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,385,112 shares of the company’s stock after selling 51,000 shares during the quarter. Fastenal comprises about 6.7% of Caledonia Investments PLC’s investment portfolio, making the stock its 6th biggest holding. Caledonia Investments PLC owned about 0.12% of Fastenal worth $67,912,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $496,000. Integrated Wealth Concepts LLC increased its holdings in shares of 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. Ameritas Advisory Services LLC bought a new stake in shares of Fastenal in the 2nd quarter worth $45,000. Callan Family Office LLC purchased a new position in shares of Fastenal in the second quarter worth $947,000. Finally, IFP Advisors Inc lifted its holdings in shares of Fastenal by 52.0% during the second quarter. IFP Advisors Inc now owns 7,086 shares of the company’s stock valued at $298,000 after purchasing an additional 2,423 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent analyst reports. Wolfe Research decreased their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Wednesday, January 21st. Robert W. Baird increased their price objective on shares of Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average target price of $48.18.

Insider Buying and Selling at Fastenal

In related news, Director Sarah N. Nielsen purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $198,000. The trade was a 25.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Fastenal Stock Up 0.8%

Shares of FAST stock opened at $47.73 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The company’s fifty day moving average price is $42.54 and its 200-day moving average price is $44.44. The company has a market capitalization of $54.80 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.04 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business posted $0.46 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Fastenal’s payout ratio is currently 87.27%.

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.