Fastenal (NASDAQ:FAST) Stock Holdings Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its stake in Fastenal (NASDAQ:FAST) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,718 shares of the company’s stock after purchasing an additional 16,332 shares during the quarter. Picton Mahoney Asset Management’s holdings in Fastenal were worth $10,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartford Financial Management Inc. boosted its stake in Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at $43,000. First Horizon Advisors Inc. increased its stake in shares of Fastenal by 283.2% in the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after acquiring an additional 558 shares during the last quarter. Finally, Pacific Center for Financial Services acquired a new stake in Fastenal during the third quarter valued at $66,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FAST shares. Loop Capital cut their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC lifted their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Stifel Nicolaus lifted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird reduced their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $67.33.

Insider Buying and Selling

In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares in the company, valued at $417,285. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Fastenal Stock Performance

Shares of FAST traded down $0.33 during mid-day trading on Tuesday, hitting $66.41. The company’s stock had a trading volume of 4,535,180 shares, compared to its average volume of 3,964,638. Fastenal has a one year low of $52.86 and a one year high of $79.04. The stock’s 50-day moving average is $72.87 and its two-hundred day moving average is $67.29. The firm has a market capitalization of $38.02 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83.

Fastenal (NASDAQ:FAST) last issued its quarterly 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.35%. Fastenal’s payout ratio is 77.23%.

Fastenal Company 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.