Swedbank AB Has $25.33 Million Holdings in Fastenal (NASDAQ:FAST)

Swedbank AB raised its holdings in Fastenal (NASDAQ:FAST) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 354,618 shares of the company’s stock after acquiring an additional 6,659 shares during the period. Swedbank AB’s holdings in Fastenal were worth $25,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Nomura Holdings Inc. bought a new position in Fastenal in the fourth quarter valued at about $747,000. CWM LLC grew its position in Fastenal by 5.5% in the first quarter. CWM LLC now owns 20,726 shares of the company’s stock valued at $1,599,000 after acquiring an additional 1,084 shares during the last quarter. Montecito Bank & Trust bought a new position in Fastenal in the first quarter valued at about $232,000. Fulton Bank N.A. grew its position in Fastenal by 2.5% in the first quarter. Fulton Bank N.A. now owns 30,181 shares of the company’s stock valued at $2,328,000 after acquiring an additional 743 shares during the last quarter. Finally, Czech National Bank grew its position in Fastenal by 0.6% in the first quarter. Czech National Bank now owns 100,685 shares of the company’s stock valued at $7,767,000 after acquiring an additional 606 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on FAST shares. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday. Morgan Stanley boosted their price target on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday. Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Price Performance

Shares of FAST stock opened at $77.77 on Thursday. The firm has a market cap of $44.53 billion, a P/E ratio of 38.69, a P/E/G ratio of 4.13 and a beta of 1.01. Fastenal has a fifty-two week low of $56.41 and a fifty-two week high of $79.04. The business’s 50 day moving average price is $69.46 and its 200-day moving average price is $67.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fastenal news, CFO Holden Lewis sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.52, for a total transaction of $2,295,600.00. Following the completion of the sale, the chief financial officer now owns 9,881 shares of the company’s stock, valued at approximately $756,094.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at $388,264.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,799 shares of company stock worth $9,967,510. 0.41% of the stock is owned by insiders.

Fastenal Company 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.