Fieldview Capital Management LLC Acquires New Shares in Fastenal Company $FAST

Fieldview Capital Management LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 18,216 shares of the company’s stock, valued at approximately $731,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its stake in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares during the period. Sittner & Nelson LLC raised its stake in shares of Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after purchasing an additional 226 shares during the period. Founders Capital Management LLC raised its stake in shares of Fastenal by 2.2% during the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after purchasing an additional 228 shares during the period. L2 Asset Management LLC raised its stake in shares of Fastenal by 4.8% during the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after purchasing an additional 248 shares during the period. Finally, Pinnacle West Asset Management Inc. raised its stake in shares of Fastenal by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock valued at $322,000 after purchasing an additional 250 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $46.10 on Tuesday. The firm has a market capitalization of $52.92 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.96 and a beta of 0.73. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $45.15 and its two-hundred day simple moving average is $44.31. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.

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

Fastenal Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on FAST shares. Bank of America boosted their price objective on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Robert W. Baird decreased their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Sanford C. Bernstein reiterated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.57.

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.