Regency Capital Management Inc. DE Makes New Investment in Fastenal Company $FAST

Regency Capital Management Inc. DE purchased a new position in shares of Fastenal Company (NASDAQ:FAST) in the 4th quarter, Holdings Channel reports. The firm purchased 88,546 shares of the company’s stock, valued at approximately $3,553,000. Fastenal makes up approximately 1.5% of Regency Capital Management Inc. DE’s portfolio, making the stock its 27th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sittner & Nelson LLC boosted its holdings in shares of Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after purchasing an additional 226 shares during the last quarter. Founders Capital Management LLC boosted its holdings in shares of Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after purchasing an additional 228 shares during the last quarter. L2 Asset Management LLC boosted its holdings in shares of Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after purchasing an additional 248 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its holdings in shares of Fastenal by 3.2% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock worth $322,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FAST shares. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Wolfe Research decreased their price objective on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. raised their price objective on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a report 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 research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $49.85.

Fastenal Price Performance

Shares of Fastenal stock opened at $47.19 on Friday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $54.17 billion, a P/E ratio of 41.39, a PEG ratio of 2.96 and a beta of 0.73. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $45.05 and its 200 day moving average price is $43.98.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.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 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Fastenal Company will post 1.23 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. Investors of record on Tuesday, April 28th were issued a $0.24 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

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.