Compass Capital Management Inc. Acquires Shares of 1,223,702 Fastenal Company $FAST

Compass Capital Management Inc. bought a new position in Fastenal Company (NASDAQ:FAST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,223,702 shares of the company’s stock, valued at approximately $58,774,000. Fastenal makes up about 3.5% of Compass Capital Management Inc.’s holdings, making the stock its 6th biggest holding.

A number of other institutional investors also recently modified their holdings of FAST. Evergreen Advisors LLC purchased a new position in shares of Fastenal during the 1st quarter valued at $26,000. Palladiem LLC purchased a new stake in shares of Fastenal during the fourth quarter worth $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fastenal during the fourth quarter worth $25,000. MV Capital Management Inc. acquired a new stake in Fastenal during the fourth quarter valued at $29,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Fastenal during the third quarter valued at $36,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $51.02 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The company has a market capitalization of $58.55 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 3.18 and a beta of 0.72. Fastenal Company has a one year low of $38.97 and a one year high of $52.92. The company’s fifty day moving average price is $47.47 and its two-hundred day moving average price is $46.12.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. 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. Fastenal’s dividend payout ratio (DPR) is 88.14%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAST. DA Davidson restated a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday, July 15th. Barclays cut their price target on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Morgan Stanley lifted their price target on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $49.17.

Insider Activity at Fastenal

In related news, Director Rita J. Heise sold 34,964 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director directly owned 58,690 shares of the company’s stock, valued at $2,875,810. The trade was a 4.86% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is currently owned by insiders.

About Fastenal

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.