Fastenal Company $FAST Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its position in Fastenal Company (NASDAQ:FAST) by 339.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,726 shares of the company’s stock after acquiring an additional 294,060 shares during the period. ExodusPoint Capital Management LP’s holdings in Fastenal were worth $15,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FAST. Norges Bank acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $646,046,000. Bank of America Corp DE boosted its stake in Fastenal by 106.1% during the second quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after buying an additional 7,943,217 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. Invesco Ltd. boosted its stake in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after buying an additional 2,242,116 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Fastenal by 1,039.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after buying an additional 2,132,593 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

NASDAQ:FAST opened at $46.05 on Wednesday. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $52.87 billion, a P/E ratio of 40.40, a P/E/G ratio of 2.93 and a beta of 0.73. The stock’s fifty day moving average is $45.14 and its two-hundred day moving average is $44.35.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts expect that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FAST shares. Bank of America boosted their price objective on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Robert W. Baird lowered their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. DA Davidson set a $46.00 price objective on Fastenal and gave the stock a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.57.

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.