Norden Group LLC Has $304,000 Stock Holdings in Fastenal (NASDAQ:FAST)

Norden Group LLC grew its position in Fastenal (NASDAQ:FAST) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,687 shares of the company’s stock after buying an additional 345 shares during the period. Norden Group LLC’s holdings in Fastenal were worth $304,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in Fastenal by 47.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after buying an additional 1,505,936 shares during the period. Invesco Ltd. grew its holdings in shares of Fastenal by 16.5% during the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after buying an additional 957,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Fastenal by 80.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Fastenal by 9.3% in the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after purchasing an additional 568,372 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after purchasing an additional 423,112 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FAST. Loop Capital reduced their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird dropped their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus lifted their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, HSBC raised their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.67.

Insider Activity

In other news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,082 shares of company stock valued at $2,584,060. Insiders own 0.41% of the company’s stock.

Fastenal Trading Up 0.4 %

Shares of FAST stock opened at $68.18 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company has a market cap of $39.04 billion, a PE ratio of 33.75, a P/E/G ratio of 3.56 and a beta of 1.07. Fastenal has a fifty-two week low of $52.85 and a fifty-two week high of $79.04. The stock’s fifty day moving average price is $73.29 and its two-hundred day moving average price is $67.00.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

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.