BB&T Securities LLC Has $2.39 Million Position in Fastenal (FAST)

BB&T Securities LLC increased its position in Fastenal (NASDAQ:FAST) by 72.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,718 shares of the company’s stock after buying an additional 19,160 shares during the period. BB&T Securities LLC’s holdings in Fastenal were worth $2,390,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FAST. Bank of Montreal Can lifted its stake in shares of Fastenal by 23.8% during the third quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after buying an additional 95,225 shares during the period. Piedmont Investment Advisors Inc. lifted its position in Fastenal by 626.9% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 23,681 shares of the company’s stock valued at $1,374,000 after purchasing an additional 20,423 shares during the period. Palisade Asset Management LLC grew its stake in shares of Fastenal by 1.0% during the 4th quarter. Palisade Asset Management LLC now owns 30,038 shares of the company’s stock worth $1,571,000 after acquiring an additional 300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Fastenal by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,049,956 shares of the company’s stock worth $60,918,000 after buying an additional 164,235 shares in the last quarter. Finally, DNB Asset Management AS grew its position in Fastenal by 14.9% in the fourth quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after acquiring an additional 7,012 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors.

Fastenal stock opened at $63.01 on Thursday. Fastenal has a 1 year low of $47.37 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.30 and a quick ratio of 2.37. The company has a market capitalization of $17.35 billion, a PE ratio of 23.96, a PEG ratio of 1.34 and a beta of 1.18.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, January 17th. The company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Fastenal will post 2.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Thursday, January 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, January 30th. This is a positive change from Fastenal’s previous quarterly dividend of $0.40. Fastenal’s dividend payout ratio is 65.40%.

In related news, insider Nicholas J. Lundquist sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $60.51, for a total value of $302,550.00. Following the completion of the sale, the insider now owns 216,000 shares in the company, valued at approximately $13,070,160. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael John Dolan sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at $750,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,500 shares of company stock worth $752,550. Corporate insiders own 0.56% of the company’s stock.

Several equities analysts recently issued reports on FAST shares. BidaskClub upgraded Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Wednesday, January 23rd. Argus reissued a “positive” rating on shares of Fastenal in a research report on Friday, January 18th. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Finally, Buckingham Research set a $51.00 price target on shares of Fastenal and gave the stock a “hold” rating in a research note on Friday, January 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.92.

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Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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