Compass Capital Management Inc. cut its holdings in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,387,651 shares of the company’s stock after selling 26,158 shares during the quarter. Fastenal accounts for 3.1% of Compass Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Compass Capital Management Inc.’s holdings in Fastenal were worth $55,686,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Elyxium Wealth LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at about $25,000. Palladiem LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at about $25,000. Field & Main Bank acquired a new stake in shares of Fastenal during the 4th quarter valued at about $30,000. Tucker Asset Management LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at about $33,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at about $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FAST. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Raymond James Financial set a $48.00 price target on Fastenal in a report on Thursday, March 5th. Morgan Stanley reiterated a “positive” rating and set a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Finally, Bank of America lifted their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $49.85.
Fastenal Stock Performance
Shares of NASDAQ FAST opened at $46.39 on Friday. 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 $45.15 and its two-hundred day moving average is $44.22. The company has a market cap of $53.26 billion, a P/E ratio of 40.69, a P/E/G ratio of 2.92 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 – Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. On average, equities analysts expect that Fastenal Company will post 1.24 EPS for the current year.
Fastenal Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s payout ratio 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.
Featured Stories
- Five stocks we like better than Fastenal
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST – Free Report).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.
