Achmea Investment Management B.V. Grows Stock Holdings in Fastenal Company $FAST

Achmea Investment Management B.V. raised its position in Fastenal Company (NASDAQ:FAST) by 66.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,581 shares of the company’s stock after purchasing an additional 246,514 shares during the period. Achmea Investment Management B.V. owned 0.05% of Fastenal worth $30,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Fastenal during the 4th quarter worth approximately $496,000. Integrated Wealth Concepts LLC raised its holdings in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Fastenal by 123.8% during the second quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock valued at $59,000 after buying an additional 779 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Fastenal by 97.9% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 24,401 shares of the company’s stock valued at $1,025,000 after buying an additional 12,073 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Fastenal by 380.8% during the 2nd quarter. SG Americas Securities LLC now owns 145,251 shares of the company’s stock valued at $6,101,000 after buying an additional 115,040 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent research reports. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Robert W. Baird increased their target price on Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fastenal has a consensus rating of “Hold” and an average price target of $48.83.

Insider Activity at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at $2,209,500. This represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.28% of the company’s stock.

Fastenal Stock Performance

FAST opened at $45.93 on Wednesday. The company’s 50 day moving average is $45.09 and its 200 day moving average is $44.04. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a market cap of $52.74 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 2.91 and a beta of 0.88. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates 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 in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, January 29th. This represents a $0.96 annualized dividend and a yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is currently 87.27%.

About Fastenal

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.