Regency Capital Management Inc. DE Invests $3.55 Million in Fastenal Company $FAST

Regency Capital Management Inc. DE bought a new position in shares of Fastenal Company (NASDAQ:FAST) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 88,546 shares of the company’s stock, valued at approximately $3,553,000. Fastenal makes up 1.5% of Regency Capital Management Inc. DE’s holdings, making the stock its 27th largest position.

A number of other large investors have also modified their holdings of the business. Sittner & Nelson LLC raised its stake in shares of Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. State of Wyoming raised its stake in shares of Fastenal by 73.8% during the 4th quarter. State of Wyoming now owns 8,059 shares of the company’s stock worth $323,000 after buying an additional 3,423 shares in the last quarter. Pinnacle West Asset Management Inc. raised its stake in shares of Fastenal by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock worth $322,000 after buying an additional 250 shares in the last quarter. CIBC Asset Management Inc increased its stake in Fastenal by 31.8% in the 4th quarter. CIBC Asset Management Inc now owns 505,817 shares of the company’s stock valued at $20,298,000 after purchasing an additional 122,149 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in Fastenal by 9.4% in the 4th quarter. Westpac Banking Corp now owns 9,393 shares of the company’s stock valued at $377,000 after purchasing an additional 807 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

NASDAQ FAST opened at $47.19 on Friday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The company has a market capitalization of $54.17 billion, a P/E ratio of 41.39, a PEG ratio of 2.96 and a beta of 0.73. The business has a 50 day moving average price of $45.05 and a 200 day moving average price of $43.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

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. The company had revenue of $2.20 billion during 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%.Fastenal’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. Sell-side analysts expect that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

Analysts Set New Price Targets

FAST has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Bank of America raised their price objective on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Finally, Wolfe Research dropped their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $49.85.

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.