Westerkirk Capital Inc. Purchases 19,400 Shares of Fastenal Company $FAST

Westerkirk Capital Inc. grew its position in Fastenal Company (NASDAQ:FAST) by 90.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 40,800 shares of the company’s stock after acquiring an additional 19,400 shares during the quarter. Westerkirk Capital Inc.’s holdings in Fastenal were worth $1,637,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares during the last quarter. Geode Capital Management LLC increased its stake in Fastenal by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock worth $1,508,216,000 after acquiring an additional 685,047 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after purchasing an additional 2,242,116 shares during the period. Norges Bank purchased a new position in shares of Fastenal in the 4th quarter worth approximately $646,046,000. Finally, Bank of America Corp DE boosted its holdings in shares of Fastenal by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 15,604,974 shares of the company’s stock worth $765,268,000 after purchasing an additional 173,581 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $46.00 on Tuesday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $52.81 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 2.97 and a beta of 0.73. The stock has a fifty day simple moving average of $45.10 and a two-hundred day simple moving average of $44.08. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts predict that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 84.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a report on Thursday. Morgan Stanley reiterated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Finally, Barclays set a $46.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.85.

Fastenal Company 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.