Bryn Mawr Capital Management LLC Has $4.06 Million Stock Position in Fastenal (NASDAQ:FAST)

Bryn Mawr Capital Management LLC cut its stake in Fastenal (NASDAQ:FAST) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,464 shares of the company’s stock after selling 638 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Fastenal were worth $4,060,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus dropped their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, HSBC lowered 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.91.

Fastenal Price Performance

NASDAQ:FAST opened at $74.60 on Wednesday. The business’s 50-day moving average is $74.09 and its 200 day moving average is $74.54. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a market capitalization of $42.78 billion, a P/E ratio of 37.11, a P/E/G ratio of 3.58 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. The ex-dividend date is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.31%. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

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.