Clifford Swan Investment Counsel LLC Raises Holdings in Fastenal (FAST)

Clifford Swan Investment Counsel LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,711 shares of the company’s stock after buying an additional 1,560 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Fastenal were worth $14,915,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FAST. Exane Derivatives acquired a new stake in shares of Fastenal in the 4th quarter valued at $110,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $115,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Fastenal in the 3rd quarter valued at $114,000. Cable Hill Partners LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at $126,000. Finally, Squar Milner Financial Services LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $202,000. 84.23% of the stock is owned by institutional investors.

In other news, insider James C. Jansen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the transaction, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the transaction, the insider now owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. Insiders sold a total of 48,884 shares of company stock worth $2,618,912 in the last quarter. Insiders own 0.55% of the company’s stock.

Fastenal (NASDAQ:FAST) opened at $54.75 on Friday. The company has a market cap of $15,470.00, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.59 and a beta of 1.03. Fastenal has a twelve month low of $39.79 and a twelve month high of $57.81. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. analysts expect that Fastenal will post 2.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is 70.14%.

FAST has been the subject of several analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research note on Thursday, January 18th. Stephens lifted their price objective on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.29.

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Fastenal Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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