Sanctuary Advisors LLC Increases Position in Fastenal Company $FAST

Sanctuary Advisors LLC lifted its position in Fastenal Company (NASDAQ:FAST) by 12.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 187,113 shares of the company’s stock after acquiring an additional 20,791 shares during the period. Sanctuary Advisors LLC’s holdings in Fastenal were worth $8,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Fastenal during the 4th quarter worth about $25,000. Palladiem LLC purchased a new position in shares of Fastenal in the fourth quarter worth about $25,000. MV Capital Management Inc. purchased a new position in shares of Fastenal in the fourth quarter worth about $29,000. Field & Main Bank acquired a new stake in shares of Fastenal during the fourth quarter worth about $30,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Fastenal during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 2.5%

Shares of NASDAQ:FAST opened at $45.49 on Friday. The company has a current ratio of 4.18, a quick ratio of 2.34 and a debt-to-equity ratio of 0.01. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The business has a 50 day moving average of $45.71 and a two-hundred day moving average of $45.18. The company has a market capitalization of $52.22 billion, a PE ratio of 38.55, a PEG ratio of 2.93 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. As a group, analysts forecast that Fastenal Company will post 1.25 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. Fastenal’s dividend payout ratio is presently 81.36%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FAST shares. Barclays cut their price target on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a report on Wednesday. Robert W. Baird cut their price objective on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday. Finally, Wolfe Research restated an “underperform” rating and set a $47.00 target price on shares of Fastenal in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.