Fastenal (NASDAQ:FAST) Shares Sold by Tredje AP fonden

Tredje AP fonden decreased its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,710 shares of the company's stock after selling 35,709 shares during the period. Tredje AP fonden's holdings in Fastenal were worth $16,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FAST. Ashton Thomas Securities LLC purchased a new stake in Fastenal during the third quarter valued at approximately $25,000. Knuff & Co LLC purchased a new stake in Fastenal during the third quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new stake in Fastenal during the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC purchased a new stake in Fastenal during the fourth quarter valued at approximately $49,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Fastenal during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

Shares of Fastenal stock traded up $1.57 during trading on Friday, hitting $75.26. 4,083,686 shares of the company's stock were exchanged, compared to its average volume of 2,920,280. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The business has a 50-day simple moving average of $74.74 and a 200-day simple moving average of $75.29. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 3.58 and a beta of 1.05.

Remove Ads

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 the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the business earned $0.46 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio (DPR) is 85.57%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FAST. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Stifel Nicolaus cut their price target 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. HSBC lowered shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus price target of $76.91.

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.