Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Fastenal (NASDAQ:FAST)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Fastenal (NASDAQ:FAST) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,751 shares of the company’s stock after acquiring an additional 28,629 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fastenal were worth $10,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Everence Capital Management Inc. raised its holdings in Fastenal by 63.2% during the 4th quarter. Everence Capital Management Inc. now owns 15,990 shares of the company’s stock valued at $1,036,000 after buying an additional 6,190 shares during the period. SVB Wealth LLC grew its holdings in Fastenal by 29.6% during the 4th quarter. SVB Wealth LLC now owns 8,740 shares of the company’s stock valued at $566,000 after purchasing an additional 1,997 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in Fastenal in the 4th quarter worth about $246,000. Strs Ohio bought a new stake in Fastenal in the fourth quarter worth about $1,932,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Fastenal by 34.8% during the fourth quarter. Vontobel Holding Ltd. now owns 46,304 shares of the company’s stock valued at $2,999,000 after buying an additional 11,956 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FAST has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Robert W. Baird decreased their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.67.

Insider Buying and Selling at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the completion of the sale, the insider now owns 5,997 shares of the company’s stock, valued at $414,392.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares in the company, valued at $414,392.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,640 shares of company stock worth $5,044,657. 0.41% of the stock is owned by insiders.

Fastenal Stock Performance

Shares of Fastenal stock opened at $67.57 on Friday. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $73.62 and its 200-day moving average price is $66.29. The firm has a market cap of $38.69 billion, a P/E ratio of 33.45, a P/E/G ratio of 3.53 and a beta of 1.05. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s payout ratio is presently 77.23%.

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.