Fastenal (NASDAQ:FAST) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its stake in Fastenal (NASDAQ:FAST) by 79.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,047 shares of the company’s stock after acquiring an additional 152,390 shares during the period. AMF Tjanstepension AB owned 0.06% of Fastenal worth $24,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Comgest Global Investors S.A.S. boosted its stake in Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after acquiring an additional 36,742 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after acquiring an additional 6,488 shares during the period. Matrix Trust Co purchased a new position in shares of Fastenal in the 4th quarter valued at approximately $1,756,000. Franklin Resources Inc. increased its holdings in shares of Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after purchasing an additional 165,423 shares during the period. Finally, Armstrong Henry H Associates Inc. raised its stake in shares of Fastenal by 29.9% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock worth $2,615,000 after purchasing an additional 8,380 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 2.7 %

FAST opened at $79.98 on Friday. The business’s fifty day moving average is $74.27 and its two-hundred day moving average is $74.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The company has a market cap of $45.86 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 3.58 and a beta of 1.02. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, January 31st. Fastenal’s dividend payout ratio is currently 85.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FAST. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research report on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus dropped their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $76.91.

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.