Fastenal Company $FAST Shares Bought by Compass Capital Management Inc.

Compass Capital Management Inc. lifted its stake in Fastenal Company (NASDAQ:FAST) by 87.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,525,574 shares of the company’s stock after acquiring an additional 713,549 shares during the period. Fastenal makes up 3.4% of Compass Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Compass Capital Management Inc. owned approximately 0.13% of Fastenal worth $64,074,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after purchasing an additional 16,308,254 shares during the period. Envestnet Asset Management Inc. grew its position in Fastenal by 103.5% during the second quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock worth $408,849,000 after buying an additional 4,950,503 shares in the last quarter. Cantillon Capital Management LLC grew its position in Fastenal by 94.4% during the second quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock worth $390,517,000 after buying an additional 4,513,985 shares in the last quarter. Blair William & Co. IL increased its stake in Fastenal by 107.2% during the second quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock valued at $286,565,000 after acquiring an additional 3,530,339 shares during the period. Finally, Provident Trust Co. raised its holdings in Fastenal by 98.9% in the 2nd quarter. Provident Trust Co. now owns 5,379,291 shares of the company’s stock valued at $225,930,000 after acquiring an additional 2,674,765 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director owned 9,000 shares in the company, valued at $382,050. The trade was a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FAST shares. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Northcoast Research began coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Finally, Barclays set a $45.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.50.

Fastenal Stock Up 0.2%

Shares of NASDAQ FAST opened at $40.85 on Monday. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The business has a fifty day moving average of $45.57 and a two-hundred day moving average of $44.41. The stock has a market cap of $46.90 billion, a PE ratio of 38.18, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.