Andra AP fonden Acquires 18,800 Shares of Fastenal Company $FAST

Andra AP fonden boosted its stake in Fastenal Company (NASDAQ:FAST) by 1.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 984,900 shares of the company’s stock after buying an additional 18,800 shares during the period. Fastenal makes up 0.6% of Andra AP fonden’s portfolio, making the stock its 29th largest holding. Andra AP fonden owned 0.09% of Fastenal worth $48,299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Fastenal by 103.5% during the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after purchasing an additional 75,852,223 shares in the last quarter. State Street Corp raised its holdings in Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 103.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after acquiring an additional 23,380,022 shares during the period. Geode Capital Management LLC lifted its stake in Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after buying an additional 18,329,847 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after purchasing an additional 16,308,254 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction on 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 in the company, valued at $2,209,500. The trade was a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

Fastenal Stock Up 2.4%

Fastenal stock opened at $45.68 on Friday. The stock has a fifty day simple moving average of $43.81 and a two-hundred day simple moving average of $44.40. 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 firm has a market cap of $52.45 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 2.85 and a beta of 0.89. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

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

Fastenal Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FAST. UBS Group reiterated a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, Robert W. Baird lifted their price target on shares of Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.18.

Fastenal 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.