Fastenal (NASDAQ:FAST) Shares Sold by Andra AP fonden

Andra AP fonden decreased its holdings in Fastenal (NASDAQ:FAST) by 91.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,900 shares of the company’s stock after selling 283,000 shares during the quarter. Andra AP fonden’s holdings in Fastenal were worth $1,791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. E Fund Management Co. Ltd. boosted its position in shares of Fastenal by 33.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 8,235 shares of the company’s stock worth $592,000 after purchasing an additional 2,047 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its position in shares of Fastenal by 2.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 39,752 shares of the company’s stock worth $2,859,000 after purchasing an additional 958 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fastenal in the 4th quarter worth $101,183,000. Cullen Frost Bankers Inc. boosted its position in shares of Fastenal by 10.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 143,424 shares of the company’s stock worth $10,314,000 after purchasing an additional 13,282 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Fastenal by 1.4% in the 4th quarter. Arizona State Retirement System now owns 166,301 shares of the company’s stock worth $11,959,000 after purchasing an additional 2,267 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $79.98 on Monday. The stock has a 50-day simple moving average of $74.27 and a two-hundred day simple moving average of $75.04. The firm has a market capitalization of $45.86 billion, a P/E ratio of 39.79, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research report on Wednesday, December 11th. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. UBS Group assumed coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Wolfe Research lifted their price target on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.91.

Fastenal Company 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.