Fastenal Company $FAST Stock Position Boosted by Steginsky Capital LLC

Key Points

• Steginsky Capital LLC increased its Fastenal stake by 10.7% in the fourth quarter, buying 154,765 more shares and bringing its total to 1,595,087 shares worth about $64.0 million.
• Fastenal reported quarterly EPS of $0.30, matching analyst estimates, while revenue came in at $2.20 billion, slightly above expectations and up 12.4% year over year.
• The company announced a quarterly dividend of $0.24 per share, implying an annualized yield of 2.2%, while analysts currently have a consensus rating of Hold with a target price of $49.77.

Steginsky Capital LLC boosted its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,595,087 shares of the company's stock after purchasing an additional 154,765 shares during the period. Fastenal makes up 10.8% of Steginsky Capital LLC's holdings, making the stock its 5th biggest holding. Steginsky Capital LLC owned 0.14% of Fastenal worth $64,011,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FAST. Bank of America Corp DE increased its position in shares of Fastenal by 106.1% during the second quarter. Bank of America Corp DE now owns 15,431,393 shares of the company's stock valued at $648,118,000 after acquiring an additional 7,943,217 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock valued at $7,430,322,000 after acquiring an additional 2,346,045 shares during the last quarter. Invesco Ltd. increased its position in shares of Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock valued at $893,307,000 after acquiring an additional 2,242,116 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Fastenal by 1,039.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company's stock valued at $94,253,000 after acquiring an additional 2,132,593 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Fastenal by 90.7% during the third quarter. American Century Companies Inc. now owns 3,590,292 shares of the company's stock valued at $176,068,000 after acquiring an additional 1,707,396 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Down 1.6%

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

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

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a $0.24 dividend. 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 84.21%.

Insider Buying and Selling at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Wolfe Research cut their price objective on Fastenal from $46.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Benchmark restated a "buy" rating on shares of Fastenal in a report on Thursday, March 5th. Morgan Stanley reaffirmed a "positive" rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Finally, Robert W. Baird dropped their target price on Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $49.77.

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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