Compass Capital Management Inc. Decreases Stock Holdings in Fastenal (NASDAQ:FAST)

Compass Capital Management Inc. reduced its stake in shares of Fastenal (NASDAQ:FAST) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 928,762 shares of the company’s stock after selling 17,370 shares during the quarter. Fastenal comprises about 4.3% of Compass Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Compass Capital Management Inc. owned 0.16% of Fastenal worth $60,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Raymond James & Associates boosted its stake in Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after acquiring an additional 31,814 shares during the last quarter. International Assets Investment Management LLC bought a new position in Fastenal in the fourth quarter valued at approximately $13,204,000. Assenagon Asset Management S.A. boosted its stake in Fastenal by 178.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock valued at $5,054,000 after acquiring an additional 49,972 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Fastenal in the third quarter valued at approximately $1,293,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after acquiring an additional 474 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Down 0.8 %

Shares of FAST stock traded down $0.54 on Tuesday, hitting $67.94. The stock had a trading volume of 3,075,452 shares, compared to its average volume of 3,975,170. The business has a 50 day moving average of $73.37 and a 200 day moving average of $66.94. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a 12-month low of $52.85 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Transactions at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 36,082 shares of company stock worth $2,584,060. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FAST. Loop Capital cut their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Robert W. Baird dropped their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. HSBC raised their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price of $67.67.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.