Brasada Capital Management LP Buys Shares of 114,053 Fastenal Company $FAST

Brasada Capital Management LP bought a new stake in Fastenal Company (NASDAQ:FAST) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 114,053 shares of the company’s stock, valued at approximately $4,612,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Fastenal by 1.6% in the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after buying an additional 2,346,045 shares in the last quarter. State Street Corp increased its holdings in Fastenal by 1.2% in the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock valued at $2,196,502,000 after buying an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock valued at $1,898,031,000 after buying an additional 919,158 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after purchasing an additional 685,047 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after purchasing an additional 2,242,116 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

NASDAQ:FAST opened at $46.57 on Friday. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The company has a market cap of $53.46 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.96 and a beta of 0.73. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The firm’s 50 day moving average is $45.15 and its two-hundred day moving average is $44.24.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Analysts expect that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Dividend Announcement

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

Wall Street Analyst Weigh In

FAST has been the topic of several research reports. Bank of America increased their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Wolfe Research lowered their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Robert W. Baird lowered their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.