Caprock Group LLC Purchases New Stake in Fastenal Company $FAST

Caprock Group LLC acquired a new position in shares of Fastenal Company (NASDAQ:FAST) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,843 shares of the company’s stock, valued at approximately $2,028,000.

Several other hedge funds also recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its holdings in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after buying an additional 147 shares during the period. Sowell Financial Services LLC lifted its stake in shares of Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares during the period. Rowlandmiller & PARTNERS.ADV boosted its position in shares of Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after purchasing an additional 250 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its stake in Fastenal by 0.4% in the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock valued at $3,125,000 after buying an additional 256 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. 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 note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.18.

Fastenal Stock Performance

FAST opened at $46.41 on Friday. The company has a market capitalization of $53.29 billion, a price-to-earnings ratio of 42.19, a P/E/G ratio of 2.90 and a beta of 0.89. The business’s 50-day moving average price is $43.08 and its two-hundred day moving average price is $44.45. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. 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 (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. Equities analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

Insiders Place Their Bets

In related news, Director Sarah N. Nielsen acquired 1,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. The trade was a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by company insiders.

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.