Fastenal Company $FAST Shares Sold by Cantillon Capital Management LLC

Cantillon Capital Management LLC lessened its holdings in shares of Fastenal Company (NASDAQ:FAST) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,166,664 shares of the company’s stock after selling 1,100,224 shares during the period. Fastenal accounts for approximately 2.5% of Cantillon Capital Management LLC’s holdings, making the stock its 15th biggest position. Cantillon Capital Management LLC’s holdings in Fastenal were worth $378,933,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FAST. Norges Bank bought a new position in shares of Fastenal during the fourth quarter valued at approximately $646,046,000. Wellington Management Group LLP boosted its position in Fastenal by 243.5% during the 4th quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company’s stock valued at $485,380,000 after purchasing an additional 8,574,208 shares during the period. Bank of America Corp DE grew its stake in Fastenal by 106.1% during the 2nd 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. Invesco Ltd. increased its position in Fastenal by 14.0% in 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 period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Fastenal by 1,039.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock valued at $94,253,000 after buying an additional 2,132,593 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FAST shares. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their target price on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Robert W. Baird reduced their price target 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. Finally, Morgan Stanley increased their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.83.

Fastenal Price Performance

NASDAQ FAST opened at $45.49 on Monday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a market capitalization of $52.20 billion, a P/E ratio of 38.55, a PEG ratio of 2.85 and a beta of 0.72. The company’s 50 day simple moving average is $45.71 and its 200 day simple moving average is $45.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts expect that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is presently 81.36%.

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.