Stephens Investment Management Group LLC Has $19.69 Million Stock Holdings in Fastenal Company $FAST

Key Points

• Stephens Investment Management Group increased its Fastenal stake by 5.1% in the fourth quarter, holding 490,661 shares valued at about $19.69 million.
• Fastenal reported Q1 earnings of $0.30 per share, matching estimates, with revenue of $2.20 billion, slightly above forecasts and up 12.4% year over year.
• The company announced a quarterly dividend of $0.24 per share, equivalent to an annualized yield of 2.2%, while analysts currently rate the stock a consensus Hold.

Stephens Investment Management Group LLC raised its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 490,661 shares of the company's stock after buying an additional 23,942 shares during the quarter. Stephens Investment Management Group LLC's holdings in Fastenal were worth $19,690,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake 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 worth $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. National Pension Service grew its stake in shares of Fastenal by 3.6% during the third quarter. National Pension Service now owns 1,558,579 shares of the company's stock worth $76,433,000 after buying an additional 53,888 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Fastenal by 1.2% during the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock worth $362,282,000 after buying an additional 90,095 shares during the last quarter. BlueStem Wealth Partners LLC bought a new stake in shares of Fastenal during the third quarter worth $634,000. Finally, Arjuna Capital bought a new stake in shares of Fastenal in the third quarter worth $3,999,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

Shares of FAST opened at $43.26 on Monday. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $49.66 billion, a P/E ratio of 37.95, a price-to-earnings-growth ratio of 2.76 and a beta of 0.75. The firm's fifty day simple moving average is $45.36 and its two-hundred day simple moving average is $43.65. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last released its 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. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, analysts predict that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal's dividend payout ratio is currently 84.21%.

Insider Buying and Selling at Fastenal

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Benchmark reissued a "buy" rating on shares of Fastenal in a research note on Thursday, March 5th. Sanford C. Bernstein reissued an "underperform" rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Bank of America boosted their price objective on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Fastenal in a research note on Friday, March 27th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and an average target price of $49.77.

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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