Bessemer Group Inc. Sells 39,908 Shares of Fastenal Company $FAST

Bessemer Group Inc. lessened its holdings in Fastenal Company (NASDAQ:FAST) by 40.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,348 shares of the company’s stock after selling 39,908 shares during the quarter. Bessemer Group Inc.’s holdings in Fastenal were worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Values First Advisors Inc. boosted its position in shares of Fastenal by 183.0% in the 2nd quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock worth $394,000 after purchasing an additional 6,064 shares in the last quarter. Nordea Investment Management AB raised its stake in Fastenal by 6.3% in the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock valued at $181,626,000 after buying an additional 219,154 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares in the last quarter. National Pension Service boosted its holdings in Fastenal by 3.6% in the third quarter. National Pension Service now owns 1,558,579 shares of the company’s stock worth $76,433,000 after acquiring an additional 53,888 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Fastenal by 7,923.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock worth $62,222,000 after acquiring an additional 1,252,981 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.8%

NASDAQ FAST opened at $47.73 on Monday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41. The company has a market capitalization of $54.80 billion, a PE ratio of 43.39, a P/E/G ratio of 3.04 and a beta of 0.89. The company has a fifty day moving average of $42.54 and a 200 day moving average of $44.44.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, January 29th. This represents a $0.96 annualized dividend and a yield of 2.0%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is currently 87.27%.

Analysts Set New Price Targets

Several equities analysts recently commented on FAST shares. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Wolfe Research reduced their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average price target of $48.18.

Insider Activity

In other news, Director Sarah N. Nielsen bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. This represents a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.