GAMMA Investing LLC Invests $488,000 in Fastenal (NASDAQ:FAST)

GAMMA Investing LLC purchased a new stake in Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,151 shares of the company’s stock, valued at approximately $488,000.

Several other large investors also recently modified their holdings of FAST. Hartford Financial Management Inc. boosted its stake in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastenal in the fourth quarter worth $35,000. Criterion Capital Advisors LLC purchased a new stake in shares of Fastenal during the fourth quarter worth about $43,000. Pacific Center for Financial Services bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Fastenal by 77.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after purchasing an additional 474 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Fastenal stock traded up $0.80 during trading hours on Wednesday, hitting $67.92. 1,295,790 shares of the stock traded hands, compared to its average volume of 4,008,369. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The firm’s 50 day moving average price is $73.54 and its 200-day moving average price is $66.63. 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 stock has a market capitalization of $38.89 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, equities analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on FAST shares. Robert W. Baird dropped their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus boosted their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC upped their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital cut their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $67.67.

Insider Activity

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at $414,392.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of Fastenal stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Joseph Drazkowski sold 11,968 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $414,392.70. The disclosure for this sale can be found here. Insiders sold a total of 48,050 shares of company stock valued at $3,411,049 in the last 90 days. Company insiders own 0.41% of the company’s stock.

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.