BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Stake in Fastenal Company $FAST

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in shares of Fastenal Company (NASDAQ:FAST) by 31.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,402 shares of the company’s stock after selling 81,658 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Fastenal were worth $8,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fastenal in the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC lifted its holdings in Fastenal by 197.5% in the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 474 shares during the last quarter. MV Capital Management Inc. lifted its holdings in Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after acquiring an additional 349 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. Finally, REAP Financial Group LLC acquired a new stake in Fastenal during the third quarter worth $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 0.5%

Shares of NASDAQ:FAST opened at $46.21 on Friday. 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 firm has a market capitalization of $53.06 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.89. The firm’s 50-day moving average is $43.49 and its two-hundred day moving average is $44.45. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.