Dimensional Fund Advisors LP Has $337.29 Million Stake in Fastenal Company $FAST

Key Points

• Dimensional Fund Advisors trimmed its Fastenal stake by 6.5% in Q3, selling 478,846 shares and finishing with 6,878,061 shares worth $337.29 million (about 0.60% of the company).
• Fastenal reported Q4 EPS of $0.26 in line with estimates and revenue of $2.03 billion (slightly below expectations), with revenue up 11.1% year-over-year, a 15.35% net margin and a 32.83% ROE.
• The company raised its quarterly dividend to $0.24 (annualized $0.96) for a ~2.0% yield, while analysts have a consensus "Hold" rating and an average price target of $48.67 (stock near $47.30).

Dimensional Fund Advisors LP reduced its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,878,061 shares of the company's stock after selling 478,846 shares during the quarter. Dimensional Fund Advisors LP owned 0.60% of Fastenal worth $337,293,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on FAST. Barclays set a $43.00 target price on Fastenal and gave the stock an "equal weight" rating in a report on Wednesday, January 21st. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a research report on Thursday. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a report on Thursday. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a "buy" rating in a research note on Monday, December 15th. Finally, Wolfe Research lifted their target price on shares of Fastenal from $42.00 to $43.00 and gave the stock an "underperform" rating in a report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $48.67.

Fastenal Stock Up 1.9%

FAST opened at $47.30 on Friday. The stock has a fifty day moving average of $44.26 and a 200-day moving average of $44.33. The company has a market capitalization of $54.32 billion, a P/E ratio of 43.00, a P/E/G ratio of 2.96 and a beta of 0.88. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two 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.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. Fastenal's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities analysts expect 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. Stockholders 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 dividend yield of 2.0%. Fastenal's dividend payout ratio (DPR) is presently 87.27%.

Insider Activity

In related news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.28% of the company's stock.

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.

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