Union Bancaire Privee UBP SA Buys 444,035 Shares of Fastenal Company $FAST

Key Points

• Union Bancaire Privée UBP SA boosted its Fastenal stake by 1,827.9%, buying an additional 444,035 shares in Q4 to hold 468,327 shares valued at $18.04 million.
• Two directors recently sold stock—Reyne K. Wisecup sold 36,920 shares (a 48% cut) at $47.34 and Scott Satterlee sold 15,964 shares at $44.19—leaving company insiders with just 0.28% ownership.
• Fastenal reported Q results with EPS of $0.26 (in line) and $2.03B revenue, raised its quarterly dividend to $0.24 (annualized $0.96, 2.2% yield), and carries a consensus analyst rating of "Hold" with an average target of $48.83.

Union Bancaire Privee UBP SA increased its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 1,827.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,327 shares of the company's stock after acquiring an additional 444,035 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Fastenal were worth $18,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company's stock worth $260,000 after acquiring an additional 238 shares during the last quarter. L2 Asset Management LLC grew its holdings in Fastenal by 4.8% in the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock worth $264,000 after acquiring an additional 248 shares during the last quarter. Rowlandmiller & PARTNERS.ADV increased its position in shares of Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company's stock valued at $721,000 after acquiring an additional 250 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock valued at $30,000 after acquiring an additional 255 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the company's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FAST has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a report on Wednesday, January 21st. Morgan Stanley reaffirmed a "positive" rating and set a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Benchmark reiterated a "buy" rating on shares of Fastenal in a report on Thursday, March 5th. Robert W. Baird lifted their price objective on Fastenal from $51.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Fastenal in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and an average target price of $48.83.

Fastenal Stock Down 1.3%

Shares of NASDAQ:FAST opened at $44.49 on Friday. The firm has a market capitalization of $51.09 billion, a P/E ratio of 40.45, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The stock has a 50 day moving average price of $45.23 and a 200-day moving average price of $44.05. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a boost from Fastenal's previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal's dividend payout ratio is currently 87.27%.

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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