Longfellow Investment Management Co. LLC Invests $455,000 in Fastenal Company $FAST

Longfellow Investment Management Co. LLC purchased a new position in shares of Fastenal Company (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,348 shares of the company’s stock, valued at approximately $455,000.

Several other large investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its stake in shares of Fastenal by 2.4% during the 1st 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 increased its stake in shares of Fastenal by 0.3% during the 4th 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 increased its stake in shares of Fastenal by 2.2% during the 4th 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 increased its stake in shares of Fastenal by 4.8% during the 3rd 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. increased its stake in shares of Fastenal by 3.2% during the 4th 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.

Analyst Ratings Changes

FAST has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $49.85.

Fastenal Stock Down 0.8%

FAST opened at $46.79 on Friday. The company has a fifty day moving average price of $45.08 and a 200-day moving average price of $44.00. The firm has a market capitalization of $53.72 billion, a P/E ratio of 41.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.

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

Fastenal Announces Dividend

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

About Fastenal

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.