Fastenal (NASDAQ:FAST) Stake Lowered by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Fastenal (NASDAQ:FAST) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 267,841 shares of the company’s stock after selling 5,636 shares during the period. Handelsbanken Fonder AB’s holdings in Fastenal were worth $17,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FAST. Hartford Financial Management Inc. grew its holdings in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastenal in the fourth quarter worth $35,000. Criterion Capital Advisors LLC bought a new stake in Fastenal in the fourth quarter worth $43,000. Pacific Center for Financial Services bought a new stake in Fastenal in the third quarter worth $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after purchasing an additional 474 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FAST shares. Stifel Nicolaus upped their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. 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. Finally, Robert W. Baird decreased their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Stock Down 0.2 %

FAST stock opened at $67.45 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a 52-week low of $52.28 and a 52-week high of $79.04. The company has a 50-day moving average of $73.57 and a two-hundred day moving average of $66.55. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

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

Insider Activity

In related news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,050 shares of company stock valued at $3,411,049. Insiders own 0.41% of the company’s stock.

About Fastenal

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.