Czech National Bank Acquires 11,243 Shares of Fastenal Company $FAST

Czech National Bank grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 302,719 shares of the company’s stock after buying an additional 11,243 shares during the period. Czech National Bank’s holdings in Fastenal were worth $12,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in FAST. Fiduciary Financial Group LLC grew its position in shares of Fastenal by 3.7% in the fourth quarter. Fiduciary Financial Group LLC now owns 7,445 shares of the company’s stock valued at $299,000 after purchasing an additional 266 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Fastenal during the 4th quarter valued at $1,192,000. Focus Financial Network Inc. lifted its holdings in Fastenal by 266.0% during the 4th quarter. Focus Financial Network Inc. now owns 68,512 shares of the company’s stock worth $2,749,000 after purchasing an additional 49,793 shares in the last quarter. Avanza Fonder AB boosted its stake in Fastenal by 73.5% in the 4th quarter. Avanza Fonder AB now owns 206,193 shares of the company’s stock worth $8,275,000 after purchasing an additional 87,330 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Fastenal by 217.5% in the 4th quarter. SG Americas Securities LLC now owns 1,332,484 shares of the company’s stock worth $53,473,000 after purchasing an additional 912,860 shares during the period. 81.38% of the stock is owned by institutional investors.

Insider Activity at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction 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 sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $45.11 on Friday. The firm has a market capitalization of $51.80 billion, a P/E ratio of 41.01, a P/E/G ratio of 2.88 and a beta of 0.88. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $45.47 and its two-hundred day simple moving average is $43.89. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the company 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 analysts anticipate 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 was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were paid a $0.24 dividend. 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 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. Fastenal’s payout ratio is 87.27%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley reaffirmed a “positive” rating and set a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. UBS Group restated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Barclays upped their target price on shares of Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

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.