Fastenal (NASDAQ:FAST) Holdings Raised by Swedbank AB

Swedbank AB increased its stake in Fastenal (NASDAQ:FAST) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,618 shares of the company’s stock after purchasing an additional 6,659 shares during the quarter. Swedbank AB owned about 0.06% of Fastenal worth $25,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FAST. King Luther Capital Management Corp lifted its stake in shares of Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after acquiring an additional 136 shares during the period. Verdence Capital Advisors LLC lifted its position in Fastenal by 1.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after purchasing an additional 143 shares in the last quarter. Compass Ion Advisors LLC increased its position in shares of Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after purchasing an additional 146 shares during the period. Finally, Catalina Capital Group LLC lifted its holdings in shares of Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after buying an additional 146 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several research reports. Stephens raised their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Bank of America began coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.80.

Fastenal Trading Up 0.8 %

Fastenal stock opened at $83.75 on Tuesday. Fastenal has a 52 week low of $59.47 and a 52 week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The firm has a market capitalization of $47.98 billion, a price-to-earnings ratio of 41.67, a P/E/G ratio of 4.87 and a beta of 0.99. The company has a 50 day moving average price of $76.53 and a 200 day moving average price of $69.87.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. Research analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of Fastenal stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This represents a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,289 shares of company stock worth $16,123,438. 0.41% of the stock is currently owned by company insiders.

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.