Regents Gate Capital LLP Invests $14.37 Million in Fastenal Company $FAST

Regents Gate Capital LLP acquired a new stake in shares of Fastenal Company (NASDAQ:FAST) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 358,196 shares of the company’s stock, valued at approximately $14,374,000. Fastenal comprises approximately 4.6% of Regents Gate Capital LLP’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Palladiem LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Fastenal in the 3rd quarter worth $36,000. Field & Main Bank acquired a new stake in Fastenal during the 4th quarter worth about $30,000. Finally, Tucker Asset Management LLC acquired a new stake in Fastenal during the 4th quarter worth about $33,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.8%

Fastenal stock opened at $46.39 on Friday. The stock’s 50 day simple moving average is $45.15 and its two-hundred day simple moving average is $44.22. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a market cap of $53.26 billion, a PE ratio of 40.69, a P/E/G ratio of 2.92 and a beta of 0.73.

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

Fastenal Dividend Announcement

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

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. Barclays set a $46.00 price objective on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Morgan Stanley reiterated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Robert W. Baird cut their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Wolfe Research reduced their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.85.

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.