ABN Amro Investment Solutions Purchases 53,677 Shares of Fastenal Company $FAST

ABN Amro Investment Solutions raised its position in shares of Fastenal Company (NASDAQ:FAST) by 531.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,779 shares of the company’s stock after purchasing an additional 53,677 shares during the period. ABN Amro Investment Solutions’ holdings in Fastenal were worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC bought a new stake in Fastenal during the 3rd quarter valued at $30,000. Elyxium Wealth LLC purchased a new position in shares of Fastenal in the 4th quarter valued at $25,000. Westfuller Advisors LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at $36,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at $36,000. Finally, Field & Main Bank purchased a new position in shares of Fastenal in the 4th quarter valued at $30,000. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America lifted their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Barclays lifted their price target on Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Finally, Benchmark reiterated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.77.

Fastenal Stock Up 0.9%

Fastenal stock opened at $43.94 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The business’s 50-day simple moving average is $45.06 and its two-hundred day simple moving average is $43.72. The company has a market cap of $50.44 billion, a PE ratio of 38.54, a PEG ratio of 2.77 and a beta of 0.75. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Equities analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

Insiders Place Their Bets

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was 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. The trade was a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.28% of the company’s stock.

About Fastenal

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.