Delta Global Management LP Acquires Shares of 14,216 Fastenal Company $FAST

Delta Global Management LP acquired a new stake in Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,216 shares of the company’s stock, valued at approximately $570,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Palladiem LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Fastenal in the 3rd quarter valued at about $36,000. Field & Main Bank bought a new stake in shares of Fastenal in the 4th quarter valued at about $30,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Fastenal in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FAST shares. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Sanford C. Bernstein reissued an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a research note on Tuesday, April 14th. Bank of America boosted their target price on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Finally, Raymond James Financial set a $48.00 target price on Fastenal in a research note on Thursday, March 5th. 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 stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price of $49.57.

Fastenal Trading Down 0.1%

Shares of Fastenal stock opened at $46.05 on Wednesday. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The stock has a market cap 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 company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $45.14 and its 200-day moving average is $44.35.

Fastenal (NASDAQ:FAST) last released 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. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $0.52 EPS. Fastenal’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that Fastenal Company will post 1.24 earnings per share for the current fiscal year.

Fastenal Announces Dividend

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

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.