Skandinaviska Enskilda Banken AB publ Sells 44,200 Shares of Fastenal (NASDAQ:FAST)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 20.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,571 shares of the company's stock after selling 44,200 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Fastenal were worth $12,263,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Fastenal during the 4th quarter valued at about $101,183,000. State Street Corp boosted its stake in Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after buying an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,765,044 shares of the company's stock valued at $1,493,214,000 after buying an additional 886,999 shares in the last quarter. Geode Capital Management LLC increased its stake in Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock worth $1,188,251,000 after acquiring an additional 880,372 shares during the last quarter. Finally, Donaldson Capital Management LLC purchased a new stake in shares of Fastenal during the 4th quarter worth approximately $44,836,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.0 %

Shares of FAST stock traded up $0.02 on Tuesday, reaching $76.09. 2,816,094 shares of the company's stock were exchanged, compared to its average volume of 2,916,111. The company's fifty day simple moving average is $74.90 and its 200 day simple moving average is $75.46. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. 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 market capitalization of $43.63 billion, a PE ratio of 37.86, a P/E/G ratio of 3.58 and a beta of 1.05.

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Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share. As a group, analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were paid a $0.43 dividend. This is an increase from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, January 31st. Fastenal's dividend payout ratio is currently 85.57%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. William Blair upgraded shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group raised their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $76.91.

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.