DGS Capital Management LLC Has $326,000 Holdings in Fastenal (NASDAQ:FAST)

DGS Capital Management LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 24.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,537 shares of the company’s stock after purchasing an additional 903 shares during the period. DGS Capital Management LLC’s holdings in Fastenal were worth $326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in Fastenal by 74.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,987 shares of the company’s stock valued at $1,382,000 after buying an additional 9,351 shares during the last quarter. AXA S.A. raised its holdings in shares of Fastenal by 3.4% in the second quarter. AXA S.A. now owns 245,393 shares of the company’s stock valued at $15,420,000 after purchasing an additional 8,046 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Fastenal by 9.8% during the second quarter. AQR Capital Management LLC now owns 333,487 shares of the company’s stock valued at $20,956,000 after purchasing an additional 29,708 shares in the last quarter. MBB Public Markets I LLC purchased a new position in Fastenal during the second quarter worth about $2,473,000. Finally, The Manufacturers Life Insurance Company grew its position in Fastenal by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 397,032 shares of the company’s stock worth $24,951,000 after purchasing an additional 4,410 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,553,400. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,660 shares of company stock worth $6,211,126. 0.41% of the stock is currently owned by insiders.

Fastenal Trading Up 0.1 %

Fastenal stock opened at $75.53 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The stock has a market cap of $43.27 billion, a P/E ratio of 37.58, a PEG ratio of 3.60 and a beta of 1.02. The firm’s fifty day moving average price is $77.18 and its 200-day moving average price is $73.38.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1,842,560.16 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 EPS. Equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.28%. Fastenal’s payout ratio is 85.57%.

Wall Street Analyst Weigh In

Several research firms have commented on FAST. Jefferies Financial Group lifted their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Bank of America assumed coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley raised their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Company Profile

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.