Czech National Bank Increases Stock Holdings in Fastenal Company $FAST

Czech National Bank increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,719 shares of the company’s stock after buying an additional 11,243 shares during the quarter. Czech National Bank’s holdings in Fastenal were worth $12,148,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FAST. Fiduciary Financial Group LLC grew its stake in shares of Fastenal by 3.7% in the 4th quarter. Fiduciary Financial Group LLC now owns 7,445 shares of the company’s stock worth $299,000 after acquiring an additional 266 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Fastenal during the fourth quarter valued at about $1,192,000. Focus Financial Network Inc. boosted its holdings in Fastenal by 266.0% during the fourth quarter. Focus Financial Network Inc. now owns 68,512 shares of the company’s stock worth $2,749,000 after purchasing an additional 49,793 shares during the last quarter. Avanza Fonder AB boosted its holdings in Fastenal by 73.5% during the fourth quarter. Avanza Fonder AB now owns 206,193 shares of the company’s stock worth $8,275,000 after purchasing an additional 87,330 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Fastenal by 217.5% in the 4th quarter. SG Americas Securities LLC now owns 1,332,484 shares of the company’s stock worth $53,473,000 after purchasing an additional 912,860 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on FAST. Barclays increased their price objective on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Raymond James Financial set a $48.00 price target on Fastenal in a research report on Thursday, March 5th. Robert W. Baird lifted their price target on Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

Fastenal Stock Down 0.6%

FAST opened at $45.11 on Friday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company’s 50-day moving average price is $45.47 and its two-hundred day moving average price is $43.89. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 2.88 and a beta of 0.88. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The company 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%. Fastenal’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. As a group, equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

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

Insider Buying and Selling at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the sale, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction 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 SEC filing for this sale provides additional information. Insiders own 0.28% 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.