Fastenal Company $FAST Shares Sold by Compass Capital Management Inc.

Compass Capital Management Inc. reduced its position in shares of Fastenal Company (NASDAQ:FAST) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,387,651 shares of the company’s stock after selling 26,158 shares during the period. Fastenal makes up about 3.1% of Compass Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Compass Capital Management Inc. owned approximately 0.12% of Fastenal worth $55,686,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd grew its holdings in Fastenal by 4.5% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 18,424 shares of the company’s stock worth $739,000 after acquiring an additional 800 shares during the period. Sepio Capital LP grew its holdings in Fastenal by 2.0% during the fourth quarter. Sepio Capital LP now owns 64,638 shares of the company’s stock worth $2,594,000 after acquiring an additional 1,295 shares during the period. Nuveen LLC grew its holdings in Fastenal by 0.6% during the fourth quarter. Nuveen LLC now owns 3,270,760 shares of the company’s stock worth $131,256,000 after acquiring an additional 20,876 shares during the period. Xponance LLC grew its holdings in Fastenal by 5.6% during the fourth quarter. Xponance LLC now owns 265,934 shares of the company’s stock worth $10,672,000 after acquiring an additional 14,201 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in Fastenal by 0.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 321,435 shares of the company’s stock worth $12,899,000 after acquiring an additional 2,329 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent analyst reports. Morgan Stanley reiterated a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Robert W. Baird decreased their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Bank of America increased their price target on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Finally, Barclays set a $46.00 price target on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.85.

Fastenal Trading Up 0.8%

NASDAQ:FAST opened at $46.39 on Friday. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The firm has a market capitalization of $53.26 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. The stock has a fifty day simple moving average of $45.15 and a 200 day simple moving average of $44.22.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Sell-side analysts forecast that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Dividend Announcement

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

About Fastenal

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.