BayBridge Capital Group LLC Has $248,000 Holdings in Fastenal (NASDAQ:FAST)

BayBridge Capital Group LLC cut its holdings in Fastenal (NASDAQ:FAST) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,446 shares of the company’s stock after selling 1,350 shares during the period. BayBridge Capital Group LLC’s holdings in Fastenal were worth $248,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal during the 3rd quarter worth about $25,000. Knuff & Co LLC acquired a new position in Fastenal in the 3rd quarter valued at approximately $27,000. Moisand Fitzgerald Tamayo LLC increased its holdings in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the period. First Personal Financial Services acquired a new stake in shares of Fastenal during the 3rd quarter valued at about $36,000. Finally, CVA Family Office LLC increased its stake in Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,772 shares of company stock worth $5,365,455 over the last ninety days. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FAST. Morgan Stanley upped their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stephens upped their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. UBS Group started coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Robert W. Baird upped their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Trading Down 1.1 %

FAST opened at $73.84 on Friday. The stock has a market capitalization of $42.30 billion, a P/E ratio of 36.74, a P/E/G ratio of 3.48 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 has a 12 month low of $61.36 and a 12 month high of $84.88. The firm’s fifty day simple moving average is $75.63 and its 200 day simple moving average is $73.86.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS 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 the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, research analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

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.