APG Asset Management N.V. Has $21.63 Million Stock Position in Fastenal (NASDAQ:FAST)

APG Asset Management N.V. grew its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 777.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,500 shares of the company's stock after acquiring an additional 275,986 shares during the quarter. APG Asset Management N.V. owned about 0.05% of Fastenal worth $21,632,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank of Nova Scotia raised its holdings in Fastenal by 4.3% in the fourth quarter. Bank of Nova Scotia now owns 76,607 shares of the company's stock valued at $5,509,000 after buying an additional 3,191 shares during the period. Invesco Ltd. increased its position in shares of Fastenal by 0.5% in the fourth quarter. Invesco Ltd. now owns 6,628,282 shares of the company's stock worth $476,640,000 after acquiring an additional 33,718 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Fastenal in the 4th quarter valued at $433,000. Unigestion Holding SA acquired a new position in shares of Fastenal during the 4th quarter valued at $467,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Fastenal during the 4th quarter worth $662,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on FAST shares. Robert W. Baird boosted their price objective on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday. Stephens raised their target price on Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Stifel Nicolaus dropped their price objective on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.91.

Remove Ads

Fastenal Price Performance

FAST stock traded up $0.39 during trading hours on Tuesday, hitting $81.69. 867,763 shares of the stock traded hands, compared to its average volume of 3,093,555. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $75.71 and a 200 day simple moving average of $76.43. Fastenal has a one year low of $61.36 and a one year high of $84.88. The company has a market cap of $46.85 billion, a P/E ratio of 40.64, a P/E/G ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Equities analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, April 25th. This is a positive change from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 2.15%. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

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.