Los Angeles Capital Management LLC Grows Position in Fastenal (NASDAQ:FAST)

Los Angeles Capital Management LLC boosted its stake in shares of Fastenal (NASDAQ:FAST) by 85.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,179,453 shares of the company’s stock after buying an additional 1,002,004 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fastenal were worth $141,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hartford Financial Management Inc. lifted its position in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastenal in the fourth quarter valued at about $35,000. Criterion Capital Advisors LLC purchased a new position in shares of Fastenal in the fourth quarter valued at about $43,000. First Horizon Advisors Inc. lifted its position in shares of Fastenal by 283.2% in the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after acquiring an additional 558 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after acquiring an additional 474 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.6 %

FAST stock traded down $0.42 during midday trading on Thursday, reaching $67.76. 1,540,118 shares of the company traded hands, compared to its average volume of 3,938,145. Fastenal has a 52-week low of $52.85 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The business has a 50 day moving average of $73.29 and a 200-day moving average of $67.00. The firm has a market capitalization of $38.80 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 3.56 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fastenal news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FAST has been the topic of several research analyst reports. HSBC boosted their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Robert W. Baird lowered their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus boosted their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.