Caledonia Investments PLC Cuts Stock Holdings in Fastenal Company $FAST

Caledonia Investments PLC decreased its holdings in Fastenal Company (NASDAQ:FAST) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,385,112 shares of the company’s stock after selling 51,000 shares during the period. Fastenal comprises approximately 6.7% of Caledonia Investments PLC’s holdings, making the stock its 6th largest holding. Caledonia Investments PLC’s holdings in Fastenal were worth $67,912,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FAST. Oppenheimer Asset Management Inc. grew its holdings in shares of Fastenal by 0.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 268,368 shares of the company’s stock worth $13,161,000 after purchasing an additional 1,856 shares during the last quarter. Candriam S.C.A. boosted its position in Fastenal by 9.8% in the 3rd quarter. Candriam S.C.A. now owns 110,697 shares of the company’s stock valued at $5,429,000 after buying an additional 9,878 shares during the period. Lowe Brockenbrough & Co. Inc. bought a new position in Fastenal in the 3rd quarter worth about $254,000. Azzad Asset Management Inc. ADV increased its position in shares of Fastenal by 16.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 183,381 shares of the company’s stock worth $8,993,000 after acquiring an additional 25,645 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Fastenal by 48.7% during the third quarter. Smartleaf Asset Management LLC now owns 15,978 shares of the company’s stock worth $781,000 after acquiring an additional 5,232 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 0.8%

Shares of FAST stock opened at $47.73 on Monday. The stock’s fifty day moving average price is $42.54 and its 200 day moving average price is $44.44. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 3.04 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Fastenal Company will post 2.15 earnings per share 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Insiders Place Their Bets

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction 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 transaction, the director owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FAST. Robert W. Baird increased their price objective on Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays set a $43.00 price target on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, UBS Group reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Four 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.18.

Fastenal 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.