Donaldson Capital Management LLC Purchases 89,843 Shares of Fastenal Company $FAST

Donaldson Capital Management LLC grew its position in Fastenal Company (NASDAQ:FAST) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,480,205 shares of the company’s stock after acquiring an additional 89,843 shares during the period. Fastenal comprises approximately 2.3% of Donaldson Capital Management LLC’s portfolio, making the stock its 13th largest position. Donaldson Capital Management LLC’s holdings in Fastenal were worth $72,589,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Independent Advisor Alliance lifted its holdings in Fastenal by 47.8% during the third quarter. Independent Advisor Alliance now owns 67,056 shares of the company’s stock worth $3,288,000 after acquiring an additional 21,698 shares in the last quarter. CWS Financial Advisors LLC raised its position in shares of Fastenal by 8.3% during the third quarter. CWS Financial Advisors LLC now owns 17,744 shares of the company’s stock worth $870,000 after purchasing an additional 1,364 shares during the period. Werba Rubin Papier Wealth Management bought a new position in shares of Fastenal during the 3rd quarter valued at about $215,000. National Pension Service grew its position in shares of Fastenal by 3.6% in the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after purchasing an additional 53,888 shares during the period. Finally, Welch & Forbes LLC increased its stake in Fastenal by 0.5% during the 3rd quarter. Welch & Forbes LLC now owns 66,184 shares of the company’s stock worth $3,246,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 0.1%

Shares of FAST stock opened at $43.36 on Friday. The firm’s fifty day moving average price is $41.86 and its two-hundred day moving average price is $44.44. 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 Company has a 1 year low of $35.31 and a 1 year high of $50.63. The firm has a market capitalization of $49.78 billion, a P/E ratio of 39.42, a PEG ratio of 2.76 and a beta of 0.90.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. On average, equities analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal’s payout ratio is presently 87.27%.

Analyst Ratings Changes

FAST has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Barclays set a $43.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Wolfe Research cut their price target on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, January 21st. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Insiders Place Their Bets

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at approximately $495,800. This represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

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.