Universal Beteiligungs und Servicegesellschaft mbH Sells 64,626 Shares of Fastenal Company $FAST

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH sold 64,626 shares of Fastenal, trimming its stake by 6.6% to 907,439 shares (worth about $36.7 million) per its latest Form 13F filing.
• Fastenal director Reyne K. Wisecup sold 36,920 shares at an average $47.34 (≈$1.75 million), reducing their holding to 40,000 shares—a 48% cut in position.
• Fastenal reported Q results of $0.30 EPS (in line with estimates) and $2.20 billion revenue (up 12.4% YoY), and declared a quarterly dividend of $0.24 ($0.96 annualized, ~2.1% yield); analysts’ consensus rating is “Hold” with an average target of $49.77.

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 907,439 shares of the company's stock after selling 64,626 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Fastenal worth $36,707,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in 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 purchasing an additional 255 shares during the last quarter. REAP Financial Group LLC acquired a new position in Fastenal during the third quarter valued at approximately $30,000. First Horizon Corp acquired a new position in Fastenal during the third quarter valued at approximately $33,000. Financial Perspectives Inc boosted its position in Fastenal by 414.0% during the third quarter. Financial Perspectives Inc now owns 699 shares of the company's stock valued at $34,000 after purchasing an additional 563 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Fastenal during the third quarter valued at approximately $35,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on 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 completion of the sale, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company's stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $45.45 on Friday. The stock has a market cap of $52.18 billion, a P/E ratio of 39.87, a PEG ratio of 2.86 and a beta of 0.84. The stock has a 50 day simple moving average of $45.84 and a 200 day simple moving average of $43.64. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. Research analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The company 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal's dividend payout ratio (DPR) is presently 84.21%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FAST shares. JPMorgan Chase & Co. raised their price objective on Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Robert W. Baird cut their price objective on Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. Barclays raised their price objective on Fastenal from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $48.00 price objective on Fastenal in a research report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fastenal 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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