Fastenal Company $FAST is Quantum Capital Management LLC NJ's 7th Largest Position

Key Points

• Quantum Capital Management LLC NJ has reduced its holdings in Fastenal Company to 770,108 shares, representing a 1.7% decrease from the previous quarter, while Fastenal constitutes 6.2% of their investment portfolio.
• Fastenal reported a revenue of $2.08 billion in its latest quarterly earnings, exceeding expectations and posting an 8.6% year-over-year increase in revenue.
• Institutional investors control 81.38% of Fastenal's stock, highlighting significant interest and confidence from large investment firms.

Quantum Capital Management LLC NJ lessened its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 770,108 shares of the company's stock after selling 13,703 shares during the quarter. Fastenal makes up approximately 6.2% of Quantum Capital Management LLC NJ's holdings, making the stock its 7th biggest holding. Quantum Capital Management LLC NJ owned about 0.13% of Fastenal worth $59,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FAST. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company's stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares during the period. GAMMA Investing LLC raised its stake in Fastenal by 8,541.0% during the first quarter. GAMMA Investing LLC now owns 1,694,235 shares of the company's stock worth $131,388,000 after acquiring an additional 1,674,628 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Fastenal by 100.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,081,620 shares of the company's stock worth $221,600,000 after acquiring an additional 1,547,319 shares during the period. Nuveen LLC acquired a new stake in Fastenal during the first quarter worth about $119,136,000. Finally, Vanguard Group Inc. raised its stake in Fastenal by 1.4% during the first quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company's stock worth $5,685,754,000 after acquiring an additional 1,016,479 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Price Performance

NASDAQ:FAST traded up $1.25 during trading hours on Friday, reaching $50.39. 5,442,493 shares of the company's stock were exchanged, compared to its average volume of 5,864,219. The company has a market capitalization of $57.83 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 4.59 and a beta of 0.95. Fastenal Company has a 12 month low of $32.04 and a 12 month high of $50.60. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $45.26 and its two-hundred day simple moving average is $41.35.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, July 29th. Fastenal's dividend payout ratio (DPR) is presently 84.62%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wolfe Research restated a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. Baird R W upgraded shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Stephens increased their price objective on shares of Fastenal from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Robert W. Baird upgraded shares of Fastenal from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $47.00 to $55.00 in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $46.36.

Insider Buying and Selling at Fastenal

In related news, insider Jeffery Michael Watts sold 48,724 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the sale, the insider directly owned 11,880 shares in the company, valued at approximately $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president owned 11,994 shares of the company's stock, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is currently owned by corporate insiders.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.