River Road Asset Management LLC Has $79.59 Million Position in Fastenal (FAST)

River Road Asset Management LLC lessened its stake in Fastenal (NASDAQ:FAST) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,522,028 shares of the company’s stock after selling 126,229 shares during the quarter. Fastenal makes up about 2.0% of River Road Asset Management LLC’s portfolio, making the stock its 3rd biggest holding. River Road Asset Management LLC’s holdings in Fastenal were worth $79,587,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avestar Capital LLC boosted its position in shares of Fastenal by 3,163.2% during the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock valued at $30,000 after acquiring an additional 601 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Fastenal during the 4th quarter valued at about $39,000. Toth Financial Advisory Corp boosted its position in shares of Fastenal by 357.5% during the 4th quarter. Toth Financial Advisory Corp now owns 915 shares of the company’s stock valued at $48,000 after acquiring an additional 715 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Fastenal by 4,838.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,659,620 shares of the company’s stock valued at $70,000 after acquiring an additional 3,585,509 shares during the last quarter. Finally, We Are One Seven LLC acquired a new position in shares of Fastenal during the 4th quarter valued at about $71,000. 86.72% of the stock is owned by institutional investors.

In other Fastenal news, insider Nicholas J. Lundquist sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $60.51, for a total value of $302,550.00. Following the transaction, the insider now owns 216,000 shares of the company’s stock, valued at $13,070,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael John Dolan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $750,000. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $752,550 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

NASDAQ FAST traded up $0.19 during trading hours on Wednesday, reaching $63.05. The company had a trading volume of 15,089 shares, compared to its average volume of 3,173,879. Fastenal has a 1-year low of $47.37 and a 1-year high of $63.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.30 and a quick ratio of 2.37. The stock has a market capitalization of $17.35 billion, a P/E ratio of 23.99, a PEG ratio of 1.34 and a beta of 1.18.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, January 17th. The company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Fastenal’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts anticipate that Fastenal will post 2.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 27th. Shareholders of record on Thursday, January 31st will be given a $0.43 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a yield of 2.73%. This is a boost from Fastenal’s previous quarterly dividend of $0.40. Fastenal’s dividend payout ratio is presently 65.40%.

Several brokerages have recently weighed in on FAST. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Thursday, January 17th. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Longbow Research cut shares of Fastenal from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 4th. Finally, Morgan Stanley began coverage on shares of Fastenal in a research report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.92.

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Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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