Fastenal (NASDAQ:FAST) Shares Bought by Swedbank AB

Swedbank AB increased its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,618 shares of the company's stock after acquiring an additional 6,659 shares during the period. Swedbank AB owned about 0.06% of Fastenal worth $25,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC acquired a new stake in Fastenal during the 3rd quarter worth approximately $27,000. Central Valley Advisors LLC purchased a new position in Fastenal in the 2nd quarter valued at approximately $28,000. Triad Wealth Partners LLC acquired a new position in shares of Fastenal in the second quarter worth $32,000. Finally, Crewe Advisors LLC increased its position in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock worth $32,000 after acquiring an additional 428 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.35 on Tuesday, reaching $84.10. 1,987,095 shares of the company were exchanged, compared to its average volume of 3,282,272. The company has a 50-day moving average of $76.53 and a 200-day moving average of $69.87. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The firm has a market cap of $48.18 billion, a price-to-earnings ratio of 41.67, a price-to-earnings-growth ratio of 4.87 and a beta of 0.99. Fastenal has a 1-year low of $59.47 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. During the same period last year, the company posted $0.52 earnings per share. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a $0.39 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.85%. Fastenal's dividend payout ratio is presently 77.61%.

Insider Activity at Fastenal

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,289 shares of company stock valued at $16,123,438. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

FAST has been the subject of several analyst reports. Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Bank of America started coverage on Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price objective for the company. UBS Group started coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 target price on the stock. Morgan Stanley boosted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $74.80.

Fastenal Company 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.