Fastenal Company $FAST Position Lessened by Nicholas Company Inc.

Key Points

• Nicholas Company Inc. trimmed its Fastenal stake by 3.4% in the fourth quarter, selling 48,880 shares and ending with 1,401,810 shares valued at about $56.3 million.
• Fastenal’s latest quarterly results were in line with expectations, reporting EPS of $0.30 on revenue of $2.20 billion, with revenue up 12.4% year over year.
• The company continues to pay a dividend of $0.24 per share quarterly, while Wall Street currently has a consensus “Hold” rating and an average price target of $49.77.

Nicholas Company Inc. decreased its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,401,810 shares of the company's stock after selling 48,880 shares during the period. Nicholas Company Inc. owned 0.12% of Fastenal worth $56,255,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FAST. REAP Financial Group LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $30,000. Field & Main Bank bought a new stake in shares of Fastenal in the 4th quarter worth approximately $30,000. First Horizon Corp bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $33,000. Manning & Napier Advisors LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $35,000. Finally, Tradewinds Capital Management LLC bought a new stake in shares of Fastenal in the 4th quarter worth approximately $35,000. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company's stock.

Fastenal Stock Performance

Shares of FAST stock opened at $44.17 on Monday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $50.71 billion, a price-to-earnings ratio of 38.75, a P/E/G ratio of 2.81 and a beta of 0.75. The stock's fifty day simple moving average is $45.63 and its 200-day simple moving average is $43.62.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Fastenal's revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal's payout ratio is currently 84.21%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FAST shares. Morgan Stanley reissued a "positive" rating and issued a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Wolfe Research cut their target price on Fastenal from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Robert W. Baird cut their target price on Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. lifted their target price on Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Five equities research 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.com, the company presently has an average rating of "Hold" and an average target price of $49.77.

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.

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