Bryn Mawr Capital Management LLC Has $641,000 Stake in Fastenal (NASDAQ:FAST)

Bryn Mawr Capital Management LLC reduced its holdings in shares of Fastenal (NASDAQ:FAST) by 84.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,907 shares of the company’s stock after selling 48,195 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Fastenal were worth $641,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FAST. State Street Corp grew its holdings in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares during the period. Geode Capital Management LLC grew its holdings in Fastenal by 5.6% during 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 3.2% during 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 acquiring an additional 608,596 shares during the period. Benjamin Edwards Inc. grew its holdings in Fastenal by 1,789.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after acquiring an additional 507,364 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Fastenal by 59.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after acquiring an additional 345,537 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $74.78 on Friday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.60 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. The firm’s 50-day simple moving average is $74.29 and its 200 day simple moving average is $74.24.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share 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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business posted $0.46 EPS. Fastenal’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal 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 given a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FAST. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, December 11th. Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Wolfe Research increased their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.91.

Fastenal Profile

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.