Indivisible Partners Takes $905,000 Position in Fastenal Company $FAST

Key Points

• Indivisible Partners opened a new position in Fastenal, buying 22,541 shares worth about $905,000 in the fourth quarter, and institutional investors now own roughly 81.38% of the company (Vanguard alone holds 151.5M shares).
• Fastenal reported Q results with EPS $0.30 (in line with estimates) and revenue of $2.20B, up 12.4% year-over-year, while the company pays a quarterly dividend of $0.24 (annualized $0.96, ~2.1% yield) and carries a consensus analyst rating of "Hold" with a $49.77 target.

Indivisible Partners bought a new position in Fastenal Company (NASDAQ:FAST - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,541 shares of the company's stock, valued at approximately $905,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. National Pension Service increased its holdings in Fastenal by 3.6% during the third quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after buying an additional 53,888 shares during the last quarter. Nordea Investment Management AB increased its holdings in Fastenal by 6.3% during the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company's stock valued at $181,626,000 after buying an additional 219,154 shares during the last quarter. Franklin Resources Inc. increased its holdings in Fastenal by 1.2% during the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after buying an additional 90,095 shares during the last quarter. Finally, BlueStem Wealth Partners LLC purchased a new stake in Fastenal during the third quarter valued at approximately $634,000. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $44.71 on Thursday. The firm has a fifty day moving average price of $45.65 and a 200-day moving average price of $43.60. 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 stock has a market cap of $51.33 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 2.83 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 announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting 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 company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. Equities analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be paid a $0.24 dividend. 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 2.1%. Fastenal's dividend payout ratio is 84.21%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FAST shares. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Robert W. Baird reduced their target price on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fastenal in a report on Friday, March 27th. Morgan Stanley reaffirmed a "positive" rating and set a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Finally, UBS Group reaffirmed a "neutral" rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fastenal currently has a consensus rating of "Hold" and a consensus target price of $49.77.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction 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 sale, the director directly owned 40,000 shares of the company's stock, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is currently owned by company insiders.

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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