114,053 Shares in Fastenal Company $FAST Purchased by Brasada Capital Management LP

Brasada Capital Management LP acquired a new position in Fastenal Company (NASDAQ:FAST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 114,053 shares of the company’s stock, valued at approximately $4,612,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elyxium Wealth LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at approximately $25,000. Palladiem LLC purchased a new stake in Fastenal in the fourth quarter valued at approximately $25,000. Field & Main Bank purchased a new stake in Fastenal in the fourth quarter valued at approximately $30,000. Tucker Asset Management LLC purchased a new stake in Fastenal in the fourth quarter valued at approximately $33,000. Finally, Tradewinds Capital Management LLC purchased a new stake in Fastenal in the fourth quarter valued at approximately $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.4%

NASDAQ FAST opened at $46.57 on Friday. The stock has a market capitalization of $53.46 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.96 and a beta of 0.73. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The firm has a 50-day moving average price of $45.15 and a 200 day moving average price of $44.24. 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 (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts expect that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a $0.24 dividend. The ex-dividend date of this dividend 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 84.21%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Robert W. Baird decreased their price objective on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Morgan Stanley restated a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.85.

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.