Fastenal Company $FAST Stock Holdings Increased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Fastenal Company (NASDAQ:FAST) by 416.4% in the first quarter, Holdings Channel.com reports. The firm owned 138,627 shares of the company’s stock after acquiring an additional 111,784 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fastenal were worth $10,751,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FAST. Horizon Financial Services LLC raised its position in Fastenal by 5,330.0% during the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after acquiring an additional 533 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock worth $44,000 after purchasing an additional 506 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Fastenal during the 1st quarter worth $49,000. TruNorth Capital Management LLC acquired a new position in shares of Fastenal during the 1st quarter worth $57,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Fastenal by 5,661.5% during the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company’s stock worth $58,000 after purchasing an additional 736 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider owned 11,880 shares in the company, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,230 shares of company stock worth $5,288,364. Insiders own 0.37% of the company’s stock.

Fastenal Trading Up 1.6%

Shares of Fastenal stock opened at $49.90 on Wednesday. The company’s fifty day simple moving average is $44.83 and its 200-day simple moving average is $41.08. The company has a market cap of $57.27 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 4.47 and a beta of 0.95. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1 year low of $32.04 and a 1 year high of $49.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. Fastenal’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, sell-side analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Fastenal’s dividend payout ratio (DPR) is presently 84.62%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FAST shares. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a research report on Thursday, July 3rd. Finally, Stephens lifted their price target on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.36.

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.