Fastenal Company $FAST Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 40.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 239,906 shares of the company’s stock after purchasing an additional 69,435 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fastenal were worth $10,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in FAST. Neuberger Berman Group LLC boosted its position in shares of Fastenal by 112.8% in the second quarter. Neuberger Berman Group LLC now owns 88,153 shares of the company’s stock worth $3,702,000 after buying an additional 46,737 shares during the period. Virtus Investment Advisers LLC lifted its position in Fastenal by 80.7% during the 2nd quarter. Virtus Investment Advisers LLC now owns 34,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 15,330 shares in the last quarter. Colonial Trust Advisors boosted its holdings in Fastenal by 107.1% in the 2nd quarter. Colonial Trust Advisors now owns 6,088 shares of the company’s stock worth $256,000 after acquiring an additional 3,149 shares during the period. F m Investments LLC grew its position in Fastenal by 89.8% in the second quarter. F m Investments LLC now owns 62,274 shares of the company’s stock valued at $2,615,000 after acquiring an additional 29,467 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Fastenal during the second quarter valued at approximately $638,648,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

Shares of Fastenal stock opened at $40.42 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The firm’s 50-day simple moving average is $43.20 and its 200-day simple moving average is $44.39. The firm has a market cap of $46.40 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92.

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

Fastenal Announces Dividend

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

Insider Activity at Fastenal

In other news, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sarah N. Nielsen acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 3,000 shares of company stock worth $131,630. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Northcoast Research assumed coverage on shares of Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a research note on Thursday, November 13th. Finally, Sanford C. Bernstein started coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective for the company. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.