Longfellow Investment Management Co. LLC Takes Position in Fastenal Company $FAST

Longfellow Investment Management Co. LLC bought a new stake in Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 11,348 shares of the company’s stock, valued at approximately $455,000.

Several other large investors have also added to or reduced their stakes in FAST. Norges Bank bought a new position in Fastenal in the 4th quarter valued at about $646,046,000. Bank of America Corp DE lifted its position in Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock valued at $648,118,000 after acquiring an additional 7,943,217 shares in the last quarter. Vanguard Group Inc. lifted its position in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after acquiring an additional 2,346,045 shares in the last quarter. Invesco Ltd. lifted its position in Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after acquiring an additional 2,242,116 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Fastenal by 1,039.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock valued at $94,253,000 after acquiring an additional 2,132,593 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $46.79 on Friday. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company’s 50 day moving average price is $45.08 and its two-hundred day moving average price is $44.00. 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 has a market cap of $53.72 billion, a P/E ratio of 41.04, a P/E/G ratio of 2.98 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FAST. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday. Wolfe Research dropped their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Finally, Robert W. Baird dropped their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.85.

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.