Compass Capital Management Inc. Lowers Stock Position in Fastenal (NASDAQ:FAST)

Compass Capital Management Inc. lessened its stake in shares of Fastenal (NASDAQ:FAST) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 813,941 shares of the company’s stock after selling 44,613 shares during the period. Fastenal comprises about 3.8% of Compass Capital Management Inc.’s holdings, making the stock its 15th biggest position. Compass Capital Management Inc. owned about 0.14% of Fastenal worth $58,530,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new stake in Fastenal during the third quarter worth about $310,000. Comgest Global Investors S.A.S. increased its stake in shares of Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after purchasing an additional 36,742 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares in the last quarter. Matrix Trust Co purchased a new position in shares of Fastenal in the fourth quarter worth about $1,756,000. Finally, Franklin Resources Inc. increased its stake in shares of Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after purchasing an additional 165,423 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,772 shares of company stock valued at $5,365,455. 0.41% of the stock is owned by insiders.

Fastenal Stock Performance

Shares of FAST stock opened at $73.72 on Tuesday. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company’s 50-day moving average is $76.43 and its 200 day moving average is $73.78. The company has a market capitalization of $42.23 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. 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 (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.33%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FAST shares. Wolfe Research lifted their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stifel Nicolaus cut their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.91.

About Fastenal

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.