Kepler Cheuvreux Suisse SA Invests $10.25 Million in Fastenal Company $FAST

Kepler Cheuvreux Suisse SA purchased a new stake in Fastenal Company (NASDAQ:FAST) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 209,016 shares of the company’s stock, valued at approximately $10,249,000.

Several other hedge funds also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Sowell Financial Services LLC raised its position in Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV boosted its stake in shares of Fastenal by 1.7% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after purchasing an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares in the last quarter. Finally, Harfst & Associates Inc. grew its holdings in shares of Fastenal by 0.4% during the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.28% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $46.30 on Wednesday. The business’s 50 day simple moving average is $44.58 and its 200 day simple moving average is $44.19. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The stock has a market capitalization of $53.17 billion, a PE ratio of 42.09, a PEG ratio of 2.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

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

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio is currently 87.27%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FAST shares. Robert W. Baird raised their price objective on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Barclays raised their price target on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Finally, Wolfe Research boosted their price objective on shares of Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.83.

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.