Wilmington Savings Fund Society FSB Raises Position in Fastenal (NASDAQ:FAST)

Wilmington Savings Fund Society FSB grew its position in shares of Fastenal (NASDAQ:FAST) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,855 shares of the company’s stock after acquiring an additional 323 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Fastenal were worth $2,075,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FAST. State Street Corp grew its stake in Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after buying an additional 608,596 shares during the period. Geode Capital Management LLC increased its stake in shares of Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after acquiring an additional 880,372 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock valued at $336,974,000 after acquiring an additional 226,126 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after acquiring an additional 165,423 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $73.84 on Monday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $75.44 and a 200-day moving average price of $73.94. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The firm has a market capitalization of $42.30 billion, a PE ratio of 36.74, a P/E/G ratio of 3.55 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FAST shares. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Jefferies Financial Group increased their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.91.

Insiders Place Their Bets

In related news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.