Duality Advisers LP Lowers Stake in Fastenal (NASDAQ:FAST)

Duality Advisers LP cut its position in shares of Fastenal (NASDAQ:FAST) by 63.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,889 shares of the company’s stock after selling 16,817 shares during the quarter. Duality Advisers LP’s holdings in Fastenal were worth $641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. grew its holdings in shares of Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $43,000. Pacific Center for Financial Services acquired a new stake in shares of Fastenal in the third quarter worth approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after acquiring an additional 474 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FAST has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC raised their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Robert W. Baird decreased their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Loop Capital decreased their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $67.67.

Fastenal Price Performance

FAST opened at $67.74 on Thursday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52-week low of $52.28 and a 52-week high of $79.04. The company has a 50 day moving average of $73.49 and a two-hundred day moving average of $66.64. The company has a market cap of $38.78 billion, a P/E ratio of 33.53, a P/E/G ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Activity

In other news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Over the last three months, insiders sold 36,082 shares of company stock worth $2,584,060. 0.41% of the stock is currently owned by company insiders.

About Fastenal

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.