DJE Kapital AG Sells 56,694 Shares of Fastenal Company $FAST

DJE Kapital AG lowered its stake in shares of Fastenal Company (NASDAQ:FAST) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 341,800 shares of the company’s stock after selling 56,694 shares during the quarter. DJE Kapital AG’s holdings in Fastenal were worth $14,016,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in FAST. Norges Bank acquired a new position in Fastenal during the 4th quarter valued at about $646,046,000. Bank of America Corp DE lifted its position in Fastenal by 106.1% during the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock valued at $648,118,000 after purchasing an additional 7,943,217 shares during the period. Vanguard Group Inc. lifted its position in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. Invesco Ltd. lifted its position in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after purchasing an additional 2,242,116 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Fastenal by 1,039.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock valued at $94,253,000 after purchasing an additional 2,132,593 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FAST. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Bank of America upped their target price on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Finally, Barclays set a $46.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.85.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $46.39 on Friday. The company has a market capitalization of $53.26 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 2.92 and a beta of 0.73. The firm’s 50 day simple moving average is $45.15 and its 200 day simple moving average is $44.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company posted $0.52 EPS. Fastenal’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s dividend payout ratio is presently 84.21%.

Fastenal Company 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.