Regents Gate Capital LLP Takes $14.37 Million Position in Fastenal Company $FAST

Regents Gate Capital LLP bought a new position in Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 358,196 shares of the company’s stock, valued at approximately $14,374,000. Fastenal comprises 4.6% of Regents Gate Capital LLP’s portfolio, making the stock its 6th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in shares of Fastenal during the fourth quarter valued at approximately $25,000. Palladiem LLC purchased a new stake in Fastenal in the fourth quarter worth $25,000. Field & Main Bank bought a new stake in shares of Fastenal during the fourth quarter worth $30,000. Tucker Asset Management LLC bought a new stake in shares of Fastenal during the fourth quarter worth $33,000. Finally, Tradewinds Capital Management LLC purchased a new stake in shares of Fastenal during the fourth quarter valued at $35,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

Shares of Fastenal stock opened at $46.39 on Friday. The company has a market capitalization of $53.26 billion, a PE ratio of 40.69, a P/E/G ratio of 2.92 and a beta of 0.73. The company has a 50-day simple moving average of $45.15 and a two-hundred day simple moving average of $44.22. Fastenal Company has a one year low of $38.97 and a one 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 results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Research analysts expect that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on FAST. Barclays set a $46.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Bank of America upped their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Robert W. Baird dropped 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. Finally, Morgan Stanley restated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.85.

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.