Rockefeller Capital Management L.P. Acquires 29,189 Shares of Fastenal Company $FAST

Rockefeller Capital Management L.P. increased its holdings in Fastenal Company (NASDAQ:FAST) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,824 shares of the company’s stock after purchasing an additional 29,189 shares during the period. Rockefeller Capital Management L.P.’s holdings in Fastenal were worth $7,537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Brighton Jones LLC bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $496,000. Integrated Wealth Concepts LLC lifted its position 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 worth $487,000 after buying an additional 147 shares during the period. Quantbot Technologies LP bought a new position in shares of Fastenal during the 2nd quarter worth approximately $158,000. Jump Financial LLC acquired a new stake in Fastenal in the 2nd quarter valued at $2,199,000. Finally, Cary Street Partners Financial LLC boosted its stake in Fastenal by 111.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after buying an additional 1,771 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.4%

FAST stock opened at $46.92 on Friday. The business has a fifty day moving average price of $45.01 and a 200 day moving average price of $44.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The stock has a market capitalization of $53.87 billion, a price-to-earnings ratio of 41.16, a P/E/G ratio of 2.95 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company 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 business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Analysts expect that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors 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 2.0%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is currently 84.21%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FAST. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Robert W. Baird dropped their target price on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Finally, Bank of America lifted their price target on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.57.

About Fastenal

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.