Fastenal Company $FAST Shares Acquired by Cantillon Capital Management LLC

Cantillon Capital Management LLC boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,266,888 shares of the company’s stock after purchasing an additional 70,183 shares during the period. Fastenal makes up approximately 2.0% of Cantillon Capital Management LLC’s holdings, making the stock its 25th biggest position. Cantillon Capital Management LLC’s holdings in Fastenal were worth $371,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after purchasing an additional 2,346,045 shares during the last quarter. Geode Capital Management LLC lifted its stake in Fastenal by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after purchasing an additional 685,047 shares during the last quarter. Invesco Ltd. lifted its stake in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after purchasing an additional 2,242,116 shares during the last quarter. Norges Bank acquired a new stake in Fastenal during the fourth quarter valued at approximately $646,046,000. Finally, Bank of America Corp DE lifted its stake in Fastenal by 1.1% during the third quarter. Bank of America Corp DE now owns 15,604,974 shares of the company’s stock valued at $765,268,000 after purchasing an additional 173,581 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on FAST. Bank of America increased their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Morgan Stanley restated a “positive” rating and set a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $49.85.

Fastenal Price Performance

Fastenal stock opened at $46.79 on Monday. The firm has a market cap of $53.72 billion, a PE ratio of 41.04, a P/E/G ratio of 2.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The firm’s 50 day moving average price is $45.08 and its two-hundred day moving average price is $44.03. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, research analysts predict that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is 84.21%.

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.