Fastenal Company $FAST Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its position in shares of Fastenal Company (NASDAQ:FAST) by 339.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,726 shares of the company’s stock after acquiring an additional 294,060 shares during the period. ExodusPoint Capital Management LP’s holdings in Fastenal were worth $15,279,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FAST. Norges Bank acquired a new position in Fastenal during the 4th quarter worth about $646,046,000. Bank of America Corp DE increased its holdings in Fastenal by 106.1% during the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock worth $648,118,000 after purchasing an additional 7,943,217 shares during the period. Vanguard Group Inc. increased its holdings in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. Invesco Ltd. increased its holdings in Fastenal by 14.0% during 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. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Fastenal by 1,039.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock worth $94,253,000 after purchasing an additional 2,132,593 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of several recent research reports. DA Davidson set a $46.00 price target on Fastenal and gave the stock a “neutral” rating in a report on Monday. 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 report on Tuesday, April 14th. Bank of America upped their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.57.

Fastenal Trading Down 0.1%

NASDAQ:FAST opened at $46.05 on Wednesday. The stock has a 50-day simple moving average of $45.14 and a 200-day simple moving average of $44.35. The stock has a market cap of $52.87 billion, a P/E ratio of 40.40, a P/E/G ratio of 2.93 and a beta of 0.73. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

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

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio is currently 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.