Mcdonald Capital Investors Inc. CA Lowers Stock Position in Fastenal Company $FAST

Key Points

• Mcdonald Capital Investors Inc. CA trimmed its stake in Fastenal by 3.5% in Q4, selling 32,414 shares and leaving 881,440 shares valued at about $35.37 million, which is 2.2% of the firm's portfolio and 0.08% of Fastenal.
• Fastenal reported quarterly EPS of $0.30 (meeting estimates) and revenue of $2.20 billion (up 12.4% YoY), and declared a $0.24 quarterly dividend (2.2% yield; 84.21% payout ratio).
• Analysts hold a consensus “Hold” rating on Fastenal with a $49.77 consensus price target (five Buy, six Hold, two Sell).

Mcdonald Capital Investors Inc. CA lowered its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 881,440 shares of the company's stock after selling 32,414 shares during the period. Fastenal accounts for 2.2% of Mcdonald Capital Investors Inc. CA's investment portfolio, making the stock its 17th largest holding. Mcdonald Capital Investors Inc. CA owned 0.08% of Fastenal worth $35,372,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. 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 valued at $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. National Pension Service boosted its holdings in shares of Fastenal by 3.6% in the third quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after acquiring an additional 53,888 shares in the last quarter. Nordea Investment Management AB raised 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 worth $181,626,000 after purchasing an additional 219,154 shares in the last quarter. Franklin Resources Inc. lifted its position in Fastenal by 1.2% in the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after purchasing an additional 90,095 shares during the period. Finally, BlueStem Wealth Partners LLC purchased a new stake in Fastenal in the 3rd quarter valued at approximately $634,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.3%

Shares of FAST opened at $43.84 on Thursday. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The company has a market capitalization of $50.33 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The stock has a fifty day moving average of $45.72 and a two-hundred day moving average of $43.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The business's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts forecast that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared 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. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal's dividend payout ratio is currently 84.21%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Robert W. Baird decreased their target price on Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 14th. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a research note on Thursday, March 5th. Barclays boosted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. Finally, UBS Group restated a "neutral" rating and set a $46.00 target price on shares of Fastenal in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $49.77.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by company insiders.

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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