Thomas Story & Son LLC Has $5.39 Million Stake in Fastenal (NASDAQ:FAST)

Thomas Story & Son LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,137 shares of the company’s stock after selling 1,200 shares during the period. Fastenal accounts for about 2.5% of Thomas Story & Son LLC’s portfolio, making the stock its 18th biggest holding. Thomas Story & Son LLC’s holdings in Fastenal were worth $5,385,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American International Group Inc. increased its stake in shares of Fastenal by 0.4% during the fourth quarter. American International Group Inc. now owns 196,683 shares of the company’s stock worth $12,739,000 after purchasing an additional 743 shares during the period. Syon Capital LLC bought a new position in shares of Fastenal during the fourth quarter worth approximately $315,000. Virtu Financial LLC bought a new position in shares of Fastenal during the fourth quarter worth approximately $1,078,000. American Trust bought a new position in shares of Fastenal during the fourth quarter worth approximately $213,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Fastenal by 34.7% during the fourth quarter. V Square Quantitative Management LLC now owns 9,807 shares of the company’s stock worth $635,000 after purchasing an additional 2,529 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FAST. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, Robert W. Baird lowered their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.33.

Insider Activity at Fastenal

In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu acquired 500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Price Performance

Shares of FAST traded down $1.24 during midday trading on Friday, hitting $63.05. The company’s stock had a trading volume of 3,619,904 shares, compared to its average volume of 3,232,898. Fastenal has a one year low of $53.83 and a one year high of $79.04. The company’s fifty day simple moving average is $67.13 and its two-hundred day simple moving average is $68.43. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $36.10 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 3.35 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results 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 net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Fastenal will post 2.09 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, April 25th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Fastenal Company 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.