Fastenal Company $FAST Shares Bought by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,757 shares of the company’s stock after acquiring an additional 18,102 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Fastenal were worth $18,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FAST. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after acquiring an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV lifted its holdings in Fastenal by 1.7% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after acquiring an additional 250 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after acquiring an additional 255 shares during the period. Finally, Harfst & Associates Inc. grew its holdings in shares of Fastenal by 0.4% during the third quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock valued at $3,125,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FAST shares. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Barclays set a $43.00 target price on Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. UBS Group restated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $48.18.

Fastenal Stock Up 0.0%

Fastenal stock opened at $46.22 on Monday. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The stock has a market cap of $53.07 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 2.95 and a beta of 0.89. The company’s 50-day moving average price is $43.57 and its two-hundred day moving average price is $44.43. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share (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 analysts’ expectations of $2.04 billion. During the same period last year, the firm posted $0.46 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Insider Buying and Selling at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by company insiders.

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.