BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in Fastenal Company $FAST

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 149.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,191 shares of the company’s stock after buying an additional 149,695 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fastenal were worth $12,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FAST. Private Wealth Management Group LLC raised its position in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Fastenal during the second quarter valued at approximately $27,000. NewSquare Capital LLC grew its stake in shares of Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after buying an additional 474 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after buying an additional 349 shares during the period. Finally, SOA Wealth Advisors LLC. lifted its stake in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $47.33 on Friday. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The business has a 50-day moving average price of $42.39 and a 200 day moving average price of $44.47. The company has a market capitalization of $54.34 billion, a P/E ratio of 43.03, a PEG ratio of 3.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be issued a dividend of $0.24 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Insider Buying and Selling at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sarah N. Nielsen bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. The trade was a 25.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research analyst reports. Barclays set a $43.00 price objective on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Robert W. Baird lowered their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Wolfe Research decreased their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Finally, UBS Group restated a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

Fastenal 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.