Fastenal (NASDAQ:FAST) Shares Acquired by Tredje AP fonden

Tredje AP fonden increased its position in shares of Fastenal (NASDAQ:FAST) by 273.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 271,419 shares of the company’s stock after buying an additional 198,818 shares during the quarter. Tredje AP fonden’s holdings in Fastenal were worth $17,056,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in shares of Fastenal in the 4th quarter valued at $747,000. Focus Financial Network Inc. ADV acquired a new stake in shares of Fastenal during the fourth quarter worth about $1,282,000. Clear Rock Advisors LLC purchased a new position in shares of Fastenal during the fourth quarter worth about $2,936,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Fastenal by 98.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock valued at $9,126,000 after acquiring an additional 58,726 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Fastenal during the 4th quarter valued at approximately $1,078,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $70.59 on Wednesday. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The stock has a fifty day moving average price of $67.66 and a 200 day moving average price of $68.48. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $40.42 billion, a P/E ratio of 35.12, a PEG ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Equities research analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Insider Activity

In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Morgan Stanley started coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective for the company. Finally, Jefferies Financial Group reduced their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.