TCW Group Inc. Reduces Position in Fastenal (FAST)

TCW Group Inc. lessened its holdings in Fastenal (NASDAQ:FAST) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,680,519 shares of the company’s stock after selling 118,949 shares during the quarter. TCW Group Inc.’s holdings in Fastenal were worth $91,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. QS Investors LLC raised its holdings in Fastenal by 1.6% in the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares during the last quarter. Sentry Investment Management LLC raised its holdings in Fastenal by 1.4% in the 2nd quarter. Sentry Investment Management LLC now owns 16,380 shares of the company’s stock valued at $713,000 after buying an additional 230 shares during the last quarter. Advisory Services Network LLC raised its holdings in Fastenal by 14.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,223 shares of the company’s stock valued at $184,000 after buying an additional 522 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Fastenal by 6.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock valued at $921,000 after buying an additional 1,023 shares during the last quarter. Finally, Cullinan Associates Inc. raised its holdings in Fastenal by 0.9% in the 4th quarter. Cullinan Associates Inc. now owns 116,001 shares of the company’s stock valued at $6,344,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.

A number of research analysts recently issued reports on FAST shares. Stephens raised their price objective on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, December 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 price objective on shares of Fastenal in a report on Monday, December 11th. Credit Suisse Group upgraded shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a report on Thursday, January 18th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Fastenal has a consensus rating of “Buy” and a consensus target price of $53.29.

Fastenal (FAST) opened at $54.75 on Monday. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The stock has a market cap of $15,746.31, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. sell-side analysts forecast that Fastenal will post 2.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.70%. Fastenal’s dividend payout ratio (DPR) is presently 73.63%.

In other news, insider James C. Jansen sold 10,000 shares of Fastenal stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles S. Miller sold 26,250 shares of Fastenal stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,884 shares of company stock valued at $2,618,912. Company insiders own 0.55% of the company’s stock.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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