Fidelis Capital Partners LLC Has $1.22 Million Stock Holdings in Fastenal Company $FAST

Fidelis Capital Partners LLC trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST) by 41.6% in the third quarter, Holdings Channel.com reports. The firm owned 24,845 shares of the company’s stock after selling 17,712 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Fastenal were worth $1,218,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FAST. Vanguard Group Inc. increased its position in shares of Fastenal by 103.5% during the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares in the last quarter. State Street Corp boosted its stake in Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 103.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after purchasing an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after purchasing an additional 18,329,847 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Fastenal by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after purchasing an additional 16,308,254 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ FAST opened at $43.32 on Friday. The firm has a market capitalization of $49.73 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $41.79 and its two-hundred day moving average price is $44.45. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. Fastenal’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. As a group, research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FAST. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Wolfe Research decreased their price target on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research note on Wednesday, January 21st. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Finally, UBS Group reiterated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.00.

Insider Activity

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

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.