Albert D Mason Inc. Acquires 11,807 Shares of Fastenal Company $FAST

Albert D Mason Inc. raised its holdings in Fastenal Company (NASDAQ:FAST) by 31.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,779 shares of the company’s stock after buying an additional 11,807 shares during the quarter. Fastenal accounts for about 1.3% of Albert D Mason Inc.’s investment portfolio, making the stock its 24th largest position. Albert D Mason Inc.’s holdings in Fastenal were worth $1,957,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares in the last quarter. National Pension Service boosted its stake in shares of Fastenal by 3.6% in the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after purchasing an additional 53,888 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Fastenal by 6.3% in the 3rd quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock worth $181,626,000 after purchasing an additional 219,154 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock worth $362,282,000 after purchasing an additional 90,095 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Fastenal by 7,923.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock worth $62,222,000 after purchasing an additional 1,252,981 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $45.11 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The company has a 50 day moving average price of $45.47 and a 200 day moving average price of $43.89. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The stock has a market capitalization of $51.80 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. Analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were given a $0.24 dividend. The ex-dividend date was 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 2.1%. Fastenal’s dividend payout ratio is 87.27%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Raymond James Financial set a $48.00 price target on Fastenal in a research report on Thursday, March 5th. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Finally, Wolfe Research increased their target price on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.83.

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.