Investment House LLC Sells 150,866 Shares of Fastenal Company $FAST

Key Points

• Investment House LLC cut its Fastenal stake by 59.7% in the fourth quarter, selling 150,866 shares and leaving it with 101,637 shares worth about $4.08 million.
• Fastenal shares were trading down about 1% at $43.57, with the company carrying a market cap of roughly $50 billion and a dividend yield of 2.2% after its latest quarterly payout announcement.
• In its most recent earnings report, Fastenal met EPS expectations at $0.30 and posted revenue of $2.20 billion, while analysts currently rate the stock a Hold on average with a price target of $49.77.

Investment House LLC decreased its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 59.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,637 shares of the company's stock after selling 150,866 shares during the period. Investment House LLC's holdings in Fastenal were worth $4,079,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after purchasing an additional 147 shares in the last quarter. Founders Capital Management LLC boosted its stake in shares of Fastenal by 2.2% during the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company's stock valued at $418,000 after purchasing an additional 228 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Fastenal by 4.8% during the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock valued at $264,000 after purchasing an additional 248 shares in the last quarter. KLCM Advisors Inc. boosted its stake in shares of Fastenal by 0.8% during the 3rd quarter. KLCM Advisors Inc. now owns 33,800 shares of the company's stock valued at $1,658,000 after purchasing an additional 260 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Fastenal by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 19,415 shares of the company's stock valued at $952,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Trading Down 1.0%

Shares of NASDAQ FAST opened at $43.57 on Wednesday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The stock has a market cap of $50.02 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75. The firm has a 50-day moving average of $45.23 and a 200 day moving average of $43.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

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

Fastenal Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley reaffirmed a "positive" rating and set a $45.00 target price on shares of Fastenal in a research note on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Barclays lifted their target price on shares of Fastenal from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Finally, UBS Group reaffirmed a "neutral" rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fastenal presently has an average rating of "Hold" and an average price target of $49.77.

Insider Transactions at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated 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 directly owned 40,000 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. 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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