Verition Fund Management LLC Decreases Stake in Fastenal by 16.2% in Q4
June 22, 2023
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Fastenal Company ($NASDAQ:FAST) is a publicly traded business that specializes in industrial and construction supplies. The company supplies products such as fasteners, safety products, tools, electrical components, and maintenance and repair supplies among others. The company has a strong track record of consistent financial performance and cash flow generation. Despite the reduction in Verition Fund Management LLC’s stake in Fastenal, the stock price of Fastenal continues to remain strong.
Analysis
As GoodWhale, we conducted an analysis of FASTENAL COMPANY‘s well-being. Based on the Star Chart, we concluded that FASTENAL COMPANY is classified as a ‘gorilla’, which indicates a company that has achieved high and stable revenue or earnings growth due to its strong competitive advantage. We believe that investors interested in FASTENAL COMPANY should be aware of its strong asset, dividend, growth, and profitability. Additionally, the company’s health score of 10/10 demonstrates its capability to ride out any crisis without the risk of bankruptcy. All these factors combined make FASTENAL COMPANY an attractive investment opportunity for those looking to benefit from a company’s strong competitive advantage and financial strength. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fastenal Company. More…
| Total Revenues | Net Income | Net Margin |
| 7.14k | 1.11k | 15.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fastenal Company. More…
| Operations | Investing | Financing |
| 1.1k | -160.8 | -924.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fastenal Company. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.58k | 1.31k | 5.54 |
Key Ratios Snapshot
Some of the financial key ratios for Fastenal Company are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.8% | 11.8% | 20.9% |
| FCF Margin | ROE | ROA |
| 13.0% | 28.9% | 20.3% |
Peers
Fastenal Co is a leading company in the fastener industry and competes with WESCO International Inc, DXP Enterprises Inc, and W.W. Grainger Inc. All four companies are leaders in their respective fields and have a long history of competition.
– WESCO International Inc ($NYSE:WCC)
WESCO International Inc. is a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced logistics services. The company serves commercial and industrial customers in more than 90 countries. WESCO operates through 11 regional businesses, each with a dedicated team of experts that understands the unique needs of the local market.
WESCO has a market cap of $6.47B as of 2022 and a ROE of 16.97%. The company is a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced logistics services. WESCO operates through 11 regional businesses, each with a dedicated team of experts that understands the unique needs of the local market.
– DXP Enterprises Inc ($NASDAQ:DXPE)
DXP Enterprises is a leading provider of integrated maintenance, repair and operations solutions that enable our customers to operate more efficiently and effectively. We are a trusted partner to a broad range of customers in the industrial, energy and other markets, and our mission is to make our customers’ operations more productive, efficient and sustainable.
DXP’s market cap is $483.23M as of 2022. The company has a Return on Equity of 14.04%.
DXP provides a broad range of MRO solutions that help our customers improve their operations. Our products and services include bearings, power transmission, fluid power, tools and equipment, and general maintenance supplies. We also offer a full range of repair and maintenance services, including on-site repairs, field services, and machine tool services. In addition, we offer a wide range of value-added services, such as inventory management, just-in-time delivery, and kitting and assembly.
– W.W. Grainger Inc ($NYSE:GWW)
W.W. Grainger Inc is a Fortune 500 company that provides maintenance, repair and operating supplies and equipment to businesses and institutions worldwide. With a market cap of 27.04B as of 2022 and a Return on Equity of 56.81%, it is clear that the company is doing well. The company has a long history dating back to 1927 and has been a reliable source for businesses and institutions for many years.
Summary
Verition Fund Management LLC recently lowered its stake in Fastenal Company by 16.2%. This indicates that the fund is bearish on the stock, and that it is not confident in its future performance. Investors should take this move into consideration when determining whether or not to invest in the company. Short-term investors may decide to stay away due to the lack of confidence from Verition Fund Management.
Long-term investors, however, should research deeper and decide if the company has strong fundamentals and a sound strategy to remain competitive in the market. Fastenal operates a business-to-business distribution of industrial and construction supplies in the United States and internationally. Investors should also consider macroeconomic trends and industry specific risk factors when analyzing Fastenal’s stock performance.
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