Banque Cantonale Vaudoise Grows Stock Holdings in Fastenal Company $FAST

Banque Cantonale Vaudoise grew its holdings in Fastenal Company (NASDAQ:FAST) by 218.2% during the 4th quarter, Holdings Channel reports. The fund owned 76,782 shares of the company’s stock after purchasing an additional 52,654 shares during the period. Banque Cantonale Vaudoise’s holdings in Fastenal were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in FAST. Brighton Jones LLC purchased a new stake in shares of Fastenal in the 4th quarter valued at $496,000. Integrated Wealth Concepts LLC lifted its stake in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares during the period. Quantbot Technologies LP acquired a new position in shares of Fastenal in the 2nd quarter valued at $158,000. Jump Financial LLC acquired a new position in shares of Fastenal in the 2nd quarter valued at $2,199,000. Finally, Cary Street Partners Financial LLC lifted its stake in shares of Fastenal by 111.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after purchasing an additional 1,771 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FAST shares. Wolfe Research decreased their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Sanford C. Bernstein reiterated 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 shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and a consensus target price of $49.77.

Fastenal Stock Up 0.3%

FAST opened at $43.68 on Thursday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. 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 company has a 50-day moving average price of $45.17 and a 200 day moving average price of $43.70. The company has a market cap of $50.15 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results 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 firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts expect that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s dividend payout ratio is 84.21%.

Insider Buying and Selling at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,893,600. This represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by company insiders.

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.