Fastenal Company $FAST Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lessened its holdings in Fastenal Company (NASDAQ:FAST) by 42.6% during the third quarter, Holdings Channel.com reports. The firm owned 91,973 shares of the company’s stock after selling 68,237 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Fastenal were worth $4,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of FAST. Brighton Jones LLC acquired a new position in Fastenal during the fourth quarter worth $496,000. Integrated Wealth Concepts LLC boosted its position in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth $215,000. TD Waterhouse Canada Inc. grew its stake in shares of Fastenal by 107.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,822 shares of the company’s stock worth $721,000 after purchasing an additional 8,709 shares during the period. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Fastenal during the 2nd quarter worth $311,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value 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. The trade was a 48.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. UBS Group restated a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.83.

Fastenal Stock Down 1.6%

FAST opened at $43.76 on Friday. The firm has a market cap of $50.25 billion, a P/E ratio of 39.78, a PEG ratio of 2.79 and a beta of 0.88. The business’s fifty day simple moving average is $45.27 and its 200 day simple moving average is $43.97. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were given a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

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.