Fastenal Company $FAST Shares Sold by Arjuna Capital

Key Points

• Arjuna Capital reduced its Fastenal stake by 35.6% in the fourth quarter, selling 29,060 shares and leaving it with 52,483 shares worth about $2.1 million.
• Fastenal’s latest earnings met expectations, with Q1 EPS of $0.30 and revenue of $2.20 billion, slightly above estimates and up 12.4% year over year.
• The company declared a quarterly dividend of $0.24 per share, payable May 26, for an annualized yield of 2.2%.

Arjuna Capital trimmed its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,483 shares of the company's stock after selling 29,060 shares during the period. Arjuna Capital's holdings in Fastenal were worth $2,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FAST. Brighton Jones LLC acquired a new stake in shares of Fastenal during the 4th quarter worth $496,000. Integrated Wealth Concepts LLC increased its position in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Fastenal during the 2nd quarter worth approximately $158,000. Jump Financial LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $2,199,000. Finally, Cary Street Partners Financial LLC increased its position in Fastenal by 111.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company's stock worth $141,000 after purchasing an additional 1,771 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FAST. UBS Group reissued a "neutral" rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Morgan Stanley reissued a "positive" rating and set a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Bank of America increased their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Wolfe Research lowered their price target on Fastenal from $46.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Fastenal in a report on Friday, March 27th. Five investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.77.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares of the company's stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.28% of the company's stock.

Fastenal Stock Down 1.6%

Shares of Fastenal stock opened at $43.26 on Friday. The business has a 50-day moving average of $45.36 and a 200-day moving average of $43.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The company has a market capitalization of $49.66 billion, a PE ratio of 37.95, a P/E/G ratio of 2.80 and a beta of 0.75. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting analysts' consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company earned $0.52 earnings per share. The business's quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

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

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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