Bryn Mawr Capital Management LLC Boosts Position in Fastenal (NASDAQ:FAST)

Bryn Mawr Capital Management LLC increased its stake in Fastenal (NASDAQ:FAST) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,667 shares of the company’s stock after acquiring an additional 1,244 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Fastenal were worth $3,087,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FAST. IFP Advisors Inc increased its stake in Fastenal by 25.6% in the 3rd quarter. IFP Advisors Inc now owns 4,702 shares of the company’s stock worth $257,000 after buying an additional 958 shares during the period. Meridian Wealth Management LLC increased its position in Fastenal by 106.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 9,716 shares of the company’s stock valued at $531,000 after purchasing an additional 5,003 shares during the period. Exchange Traded Concepts LLC increased its position in Fastenal by 29.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 13,092 shares of the company’s stock valued at $715,000 after purchasing an additional 2,944 shares during the period. Koshinski Asset Management Inc. increased its position in Fastenal by 10.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,889 shares of the company’s stock valued at $267,000 after purchasing an additional 449 shares during the period. Finally, Oak Thistle LLC increased its position in Fastenal by 69.8% during the 3rd quarter. Oak Thistle LLC now owns 11,356 shares of the company’s stock valued at $620,000 after purchasing an additional 4,668 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.0 %

Shares of NASDAQ:FAST traded up $0.03 during trading on Friday, reaching $68.17. The stock had a trading volume of 2,802,012 shares, compared to its average volume of 4,000,500. Fastenal has a one year low of $52.66 and a one year high of $79.04. The company has a market capitalization of $39.03 billion, a P/E ratio of 33.75, a PEG ratio of 3.55 and a beta of 1.05. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $73.41 and its 200 day simple moving average is $66.73.

Fastenal (NASDAQ:FAST) last released its quarterly 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). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling

In related news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were acquired 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 owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders sold 36,082 shares of company stock worth $2,584,060 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. HSBC raised their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital cut 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. Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Robert W. Baird cut 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $67.67.

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.