Quantinno Capital Management LP Increases Stake in Fastenal Company $FAST

Quantinno Capital Management LP raised its stake in Fastenal Company (NASDAQ:FAST) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,302,603 shares of the company’s stock after acquiring an additional 358,268 shares during the quarter. Quantinno Capital Management LP owned approximately 0.11% of Fastenal worth $60,441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FAST. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $25,000. Palladiem LLC acquired a new position in shares of Fastenal in the fourth quarter worth about $25,000. Evergreen Advisors LLC purchased a new stake in shares of Fastenal during the 1st quarter worth about $26,000. MV Capital Management Inc. purchased a new stake in shares of Fastenal during the 4th quarter worth about $29,000. Finally, Field & Main Bank acquired a new stake in shares of Fastenal during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 1.0%

Shares of Fastenal stock opened at $48.10 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The firm has a market capitalization of $55.19 billion, a PE ratio of 40.76, a P/E/G ratio of 2.98 and a beta of 0.72. The firm’s 50-day moving average price is $46.09 and its 200 day moving average price is $45.48.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business earned $0.29 EPS. Fastenal’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts predict that Fastenal Company will post 1.25 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is presently 81.36%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays cut their price target on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.83.

Fastenal 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.