Fastenal Company $FAST Shares Sold by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ decreased its position in shares of Fastenal Company (NASDAQ:FAST) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 966,749 shares of the company’s stock after selling 19,495 shares during the quarter. Fastenal comprises 4.5% of Quantum Capital Management LLC NJ’s holdings, making the stock its 12th biggest position. Quantum Capital Management LLC NJ’s holdings in Fastenal were worth $38,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in FAST. Norges Bank acquired a new position in Fastenal during the fourth quarter worth approximately $646,046,000. Bank of America Corp DE increased its position in Fastenal by 106.1% during the second quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after buying an additional 7,943,217 shares during the period. Vanguard Group Inc. increased its position in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after buying an additional 2,346,045 shares during the period. Invesco Ltd. increased its position in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after buying an additional 2,242,116 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Fastenal by 1,039.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after buying an additional 2,132,593 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FAST shares. Robert W. Baird cut their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Sanford C. Bernstein reissued an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Bank of America boosted their price objective on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Morgan Stanley reiterated a “positive” rating and set a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Finally, Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.85.

Fastenal Trading Up 0.4%

Shares of FAST opened at $46.57 on Friday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $53.46 billion, a P/E ratio of 40.85, a PEG ratio of 2.95 and a beta of 0.73. The firm’s 50-day moving average is $45.15 and its two-hundred day moving average is $44.24.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, research analysts predict that Fastenal Company will post 1.24 earnings per share 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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

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.