Raiffeisen Bank International AG Has $3.12 Million Stake in Fastenal Company $FAST

Raiffeisen Bank International AG lifted its stake in Fastenal Company (NASDAQ:FAST) by 112.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,752 shares of the company’s stock after buying an additional 40,146 shares during the period. Raiffeisen Bank International AG’s holdings in Fastenal were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its holdings in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Fastenal by 3.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock worth $392,000 after purchasing an additional 154 shares in the last quarter. Advisory Alpha LLC increased its position in shares of Fastenal by 5.8% in the first quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock worth $264,000 after purchasing an additional 187 shares during the period. Integrated Investment Consultants LLC raised its stake in Fastenal by 3.5% in the first quarter. Integrated Investment Consultants LLC now owns 5,666 shares of the company’s stock valued at $439,000 after purchasing an additional 190 shares in the last quarter. Finally, Wellington Shields & Co. LLC raised its stake in Fastenal by 11.8% in the first quarter. Wellington Shields & Co. LLC now owns 1,900 shares of the company’s stock valued at $147,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Fastenal Trading Down 1.9%

Shares of Fastenal stock opened at $39.70 on Tuesday. The firm has a market capitalization of $45.58 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $44.57 and its 200 day moving average is $44.43. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. Equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio is presently 82.24%.

Analyst Ratings Changes

A number of brokerages have issued reports on FAST. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Robert W. Baird cut their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Sanford C. Bernstein began coverage on shares of Fastenal in a research report on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.32.

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.