Twin Capital Management Inc. Has $2.56 Million Stock Position in Fastenal (NASDAQ:FAST)

Twin Capital Management Inc. lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,577 shares of the company’s stock after selling 863 shares during the period. Twin Capital Management Inc.’s holdings in Fastenal were worth $2,563,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FAST. Norges Bank acquired a new stake in Fastenal during the fourth quarter worth approximately $268,570,000. Morgan Stanley boosted its holdings in Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after acquiring an additional 2,492,722 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Fastenal by 47.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after acquiring an additional 1,505,936 shares in the last quarter. Invesco Ltd. boosted its holdings in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after acquiring an additional 957,091 shares in the last quarter. Finally, Select Equity Group L.P. boosted its holdings in Fastenal by 60.2% in the first quarter. Select Equity Group L.P. now owns 2,481,822 shares of the company’s stock worth $133,869,000 after acquiring an additional 933,068 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 1.1 %

Shares of FAST stock traded down $0.78 during trading hours on Thursday, reaching $67.70. The company had a trading volume of 1,267,996 shares, compared to its average volume of 4,036,212. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The business has a fifty day simple moving average of $73.70 and a 200-day simple moving average of $66.20. The company has a market cap of $38.74 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, research analysts expect that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Insider Buying and Selling

In related news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,682 shares of company stock worth $7,375,853. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FAST has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird cut their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. HSBC increased their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday. Finally, Loop Capital dropped their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.