Fastenal Company $FAST Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,381,560 shares of the company’s stock after selling 125,690 shares during the period. Fastenal makes up approximately 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 16th largest holding. Riverbridge Partners LLC owned 0.21% of Fastenal worth $95,572,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kathmere Capital Management LLC grew its position in Fastenal by 3.2% during the 4th quarter. Kathmere Capital Management LLC now owns 22,351 shares of the company’s stock worth $897,000 after purchasing an additional 701 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of Fastenal by 31.9% in the fourth quarter. Albert D Mason Inc. now owns 48,779 shares of the company’s stock worth $1,957,000 after buying an additional 11,807 shares during the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $586,000. Sax Wealth Advisors LLC purchased a new stake in shares of Fastenal during the fourth quarter valued at $225,000. Finally, Czech National Bank increased its position in shares of Fastenal by 3.9% in the 4th quarter. Czech National Bank now owns 302,719 shares of the company’s stock valued at $12,148,000 after acquiring an additional 11,243 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FAST shares. Robert W. Baird raised their target price on Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Finally, Morgan Stanley restated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Trading Down 0.6%

Shares of NASDAQ:FAST opened at $45.11 on Friday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The business has a 50 day moving average of $45.47 and a two-hundred day moving average of $43.89. The company has a market capitalization of $51.80 billion, a PE ratio of 41.01, a PEG ratio of 2.88 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company earned $0.46 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s payout ratio is currently 87.27%.

Insider Activity

In other news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.28% of the company’s stock.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.