Logan Capital Management Inc. Acquires 21,769 Shares of Fastenal Company $FAST

Logan Capital Management Inc. lifted its stake in Fastenal Company (NASDAQ:FAST) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 520,459 shares of the company’s stock after acquiring an additional 21,769 shares during the period. Fastenal makes up 0.9% of Logan Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Logan Capital Management Inc.’s holdings in Fastenal were worth $20,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FAST. Elyxium Wealth LLC bought a new stake in Fastenal in the fourth quarter worth $25,000. Palladiem LLC purchased a new position in shares of Fastenal in the 4th quarter worth $25,000. Field & Main Bank bought a new stake in shares of Fastenal in the 4th quarter worth about $30,000. Tucker Asset Management LLC bought a new stake in shares of Fastenal in the 4th quarter worth about $33,000. Finally, Tradewinds Capital Management LLC purchased a new stake in shares of Fastenal during the 4th quarter valued at about $35,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.8%

Shares of NASDAQ FAST opened at $46.39 on Friday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The business has a fifty day moving average price of $45.15 and a 200 day moving average price of $44.22. The stock has a market capitalization of $53.26 billion, a P/E ratio of 40.69, a price-to-earnings-growth ratio of 2.92 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 (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities research analysts expect that Fastenal Company will post 1.24 EPS for the current fiscal year.

Fastenal Dividend Announcement

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

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Wolfe Research lowered 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Finally, Bank of America boosted their price target on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.85.

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.