Global Endowment Management LP Raises Holdings in Fastenal (FAST)

Global Endowment Management LP grew its holdings in shares of Fastenal (NASDAQ:FAST) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,560 shares of the company’s stock after buying an additional 1,300 shares during the period. Global Endowment Management LP’s holdings in Fastenal were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its position in Fastenal by 6.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock worth $921,000 after purchasing an additional 1,023 shares during the period. Suntrust Banks Inc. boosted its position in Fastenal by 10.7% during the fourth quarter. Suntrust Banks Inc. now owns 10,807 shares of the company’s stock worth $589,000 after purchasing an additional 1,048 shares during the period. Cullinan Associates Inc. boosted its position in Fastenal by 0.9% during the fourth quarter. Cullinan Associates Inc. now owns 116,001 shares of the company’s stock worth $6,344,000 after purchasing an additional 1,050 shares during the period. Palisade Asset Management LLC boosted its position in Fastenal by 4.3% during the third quarter. Palisade Asset Management LLC now owns 26,897 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,100 shares during the period. Finally, YHB Investment Advisors Inc. boosted its position in Fastenal by 3.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 35,815 shares of the company’s stock worth $1,959,000 after purchasing an additional 1,187 shares during the period. Hedge funds and other institutional investors own 85.08% of the company’s stock.

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

Shares of Fastenal (NASDAQ FAST) opened at $55.20 on Friday. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The stock has a market cap of $15,585.26, a PE ratio of 27.46, a PEG ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a $0.37 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, January 30th. Fastenal’s dividend payout ratio (DPR) is currently 73.63%.

In related news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the sale, the insider now directly owns 22,588 shares in the company, valued at $1,151,988. The disclosure for this sale can be found here. Insiders sold 38,884 shares of company stock worth $2,133,912 over the last ninety days. 0.55% of the stock is currently owned by insiders.

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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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