Anfield Capital Management LLC Takes $2.34 Million Position in Fastenal Company $FAST

Anfield Capital Management LLC purchased a new position in shares of Fastenal Company (NASDAQ:FAST) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 47,686 shares of the company’s stock, valued at approximately $2,339,000.

Several other institutional investors have also recently bought and sold shares of FAST. Vanguard Group Inc. grew its holdings in Fastenal by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares during the last quarter. State Street Corp raised its position in Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the last quarter. Geode Capital Management LLC boosted its position in Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after buying an additional 18,329,847 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Fastenal by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after buying an additional 16,308,254 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, 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 transaction of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Fastenal Stock Performance

Shares of FAST stock opened at $46.04 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The company has a market capitalization of $52.87 billion, a P/E ratio of 41.85, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89. The company’s 50 day moving average price is $43.88 and its two-hundred day moving average price is $44.39. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio is presently 87.27%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Wolfe Research increased their price objective on shares of Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Friday. UBS Group reaffirmed a “neutral” rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Robert W. Baird increased their price target on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.27.

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.