Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 4,245 Shares of Fastenal Company (FAST)
Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,565 shares of the company’s stock after purchasing an additional 4,245 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fastenal were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in FAST. Janus Henderson Group PLC raised its holdings in shares of Fastenal by 357.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fastenal by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Fastenal by 580.8% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after purchasing an additional 1,276,832 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Fastenal by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after purchasing an additional 943,262 shares in the last quarter. Finally, Nicholas Company Inc. raised its holdings in shares of Fastenal by 184.9% during the 2nd quarter. Nicholas Company Inc. now owns 1,210,440 shares of the company’s stock valued at $52,690,000 after purchasing an additional 785,595 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen L. Eastman purchased 800 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $40.58 per share, for a total transaction of $32,464.00. The disclosure for this purchase can be found here. Insiders sold a total of 60,112 shares of company stock worth $2,884,832 over the last 90 days. Company insiders own 0.55% of the company’s stock.
Shares of Fastenal Company (NASDAQ FAST) opened at $48.47 on Friday. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. The stock has a market cap of $13,929.79, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. Fastenal Company has a 12-month low of $39.79 and a 12-month high of $52.74.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. sell-side analysts predict that Fastenal Company will post 1.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be given a $0.32 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $1.28 annualized dividend and a yield of 2.64%. Fastenal’s dividend payout ratio is 68.09%.
A number of research analysts have recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating and set a $51.00 price target (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Northcoast Research restated a “buy” rating on shares of Fastenal in a report on Friday, August 4th. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Fastenal from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and a consensus target price of $50.80.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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