Arbejdsmarkedets Tillaegspension Makes New Investment in Fastenal Company $FAST

Arbejdsmarkedets Tillaegspension purchased a new position in shares of Fastenal Company (NASDAQ:FAST) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 576,573 shares of the company’s stock, valued at approximately $23,138,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares during the last quarter. Invesco Ltd. lifted its stake in Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after acquiring an additional 2,242,116 shares during the period. Bank of America Corp DE increased its holdings in shares of Fastenal by 1.1% during the third quarter. Bank of America Corp DE now owns 15,604,974 shares of the company’s stock valued at $765,268,000 after acquiring an additional 173,581 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Fastenal by 0.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,276,145 shares of the company’s stock valued at $405,860,000 after purchasing an additional 26,702 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Fastenal by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock valued at $362,282,000 after purchasing an additional 90,095 shares during the period. 81.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FAST shares. Wolfe Research lowered their price target on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Raymond James Financial set a $48.00 target price on Fastenal in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $49.77.

Insider Transactions at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $43.26 on Friday. The business’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $43.64. The stock has a market cap of $49.66 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Fastenal’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.