Donaldson Capital Management LLC Has $55.90 Million Stake in Fastenal Company $FAST

Donaldson Capital Management LLC lowered its position in shares of Fastenal Company (NASDAQ:FAST) by 5.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,393,083 shares of the company’s stock after selling 87,122 shares during the period. Fastenal comprises about 1.8% of Donaldson Capital Management LLC’s portfolio, making the stock its 20th biggest position. Donaldson Capital Management LLC owned about 0.12% of Fastenal worth $55,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal during the second quarter worth about $27,000. SOA Wealth Advisors LLC. raised its holdings in Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the last quarter. REAP Financial Group LLC bought a new position in Fastenal in the 3rd quarter valued at approximately $30,000. First Horizon Corp acquired a new stake in Fastenal during the 3rd quarter worth approximately $33,000. Finally, Financial Perspectives Inc boosted its position in Fastenal by 414.0% during the 3rd quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock worth $34,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. UBS Group reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Barclays raised their target price on Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group set a $52.00 target price on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.83.

Insider Activity

In related 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 sale, the director owned 50,000 shares in the company, valued at $2,209,500. This represents a 24.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the sale, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. This represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $44.95 on Monday. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.85 and a beta of 0.88. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. 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 firm has a 50 day moving average price of $45.49 and a two-hundred day moving average price of $43.81.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is 87.27%.

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.