Entropy Technologies LP Purchases New Position in Fastenal Company $FAST

Entropy Technologies LP acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 38,618 shares of the company’s stock, valued at approximately $1,550,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Fastenal by 1.6% in 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 period. Franklin Resources Inc. grew its stake in Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock valued at $362,282,000 after buying an additional 90,095 shares during the last quarter. BlueStem Wealth Partners LLC bought a new position in Fastenal in the 3rd quarter worth $634,000. Wiregrass Investment Management LLC bought a new position in Fastenal in the 4th quarter worth $1,020,000. Finally, Stance Capital LLC lifted its position in Fastenal by 653.1% during the 3rd quarter. Stance Capital LLC now owns 54,976 shares of the company’s stock worth $2,696,000 after acquiring an additional 47,676 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Down 1.0%

Shares of FAST opened at $46.10 on Tuesday. The stock’s 50-day moving average price is $45.15 and its 200 day moving average price is $44.31. 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 firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 2.96 and a beta of 0.73. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63.

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

Fastenal Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FAST shares. Raymond James Financial set a $48.00 price target on Fastenal in a research report on Thursday, March 5th. Barclays set a $46.00 target price on Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. DA Davidson set a $46.00 price target on Fastenal in a report on Monday. Finally, Wolfe Research reduced their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.57.

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.