WINTON GROUP Ltd Sells 44,035 Shares of Fastenal Company $FAST

Key Points

• WINTON GROUP Ltd cut its Fastenal stake by 10.1% in Q3, selling 44,035 shares and leaving 392,528 shares valued at about $19.25 million, making FAST roughly 0.7% of its portfolio (its 11th largest holding).
• Significant insider selling: Director Reyne K. Wisecup sold 36,920 shares for ~$1.75M (a 48% reduction) and Director Scott Satterlee sold 15,964 shares for ~$705K, leaving insiders owning about 0.28% of the stock.
• Analysts are mixed with a consensus "Hold" and average price target of $48.83; Fastenal trades near $46.46 with a $53.35B market cap, a P/E of 42.24, and recently raised its quarterly dividend to $0.24 (2.1% yield).

WINTON GROUP Ltd decreased its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,528 shares of the company's stock after selling 44,035 shares during the quarter. Fastenal comprises approximately 0.7% of WINTON GROUP Ltd's investment portfolio, making the stock its 11th biggest holding. WINTON GROUP Ltd's holdings in Fastenal were worth $19,250,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FAST. SOA Wealth Advisors LLC. grew its holdings in Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock worth $30,000 after acquiring an additional 255 shares during the period. REAP Financial Group LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the 2nd quarter valued at $27,000. First Horizon Corp bought a new position in shares of Fastenal in the 3rd quarter worth $33,000. Finally, Financial Perspectives Inc grew its stake in shares of Fastenal by 414.0% during the third quarter. Financial Perspectives Inc now owns 699 shares of the company's stock worth $34,000 after purchasing an additional 563 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the company a "buy" rating in a report on Monday, December 15th. Sanford C. Bernstein restated an "underperform" rating on shares of Fastenal in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed a "positive" rating and issued a $45.00 price target on shares of Fastenal in a research note on Thursday. Barclays increased their price target on shares of Fastenal from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Fastenal in a report on Monday, December 29th. Six 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $48.83.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction 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 sale, the director directly owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the business's stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company's stock.

Fastenal Stock Down 1.8%

NASDAQ:FAST opened at $46.46 on Monday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The stock has a 50-day moving average price of $44.36 and a two-hundred day moving average price of $44.24. The stock has a market cap of $53.35 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.96 and a beta of 0.88. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $2.04 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Fastenal's revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. This is an increase from Fastenal's previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal's dividend payout ratio is 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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