947,541 Shares in Fastenal Company $FAST Acquired by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc bought a new stake in Fastenal Company (NASDAQ:FAST) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 947,541 shares of the company’s stock, valued at approximately $43,694,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fastenal during the fourth quarter worth $646,046,000. Wellington Management Group LLP boosted its stake in Fastenal by 243.5% in the 4th quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company’s stock worth $485,380,000 after purchasing an additional 8,574,208 shares during the period. Bank of America Corp DE increased its holdings 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 worth $648,118,000 after purchasing an additional 7,943,217 shares in the last quarter. Invesco Ltd. increased its holdings in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after purchasing an additional 2,242,116 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Fastenal by 1,039.6% in 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. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays set a $46.00 price target on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Bank of America increased their price objective on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. DA Davidson initiated coverage on Fastenal in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research report on Tuesday, April 14th. Five equities 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 stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $49.57.

Fastenal Trading Up 0.0%

Fastenal stock opened at $45.91 on Friday. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 2.92 and a beta of 0.73. The firm has a 50-day moving average of $45.08 and a 200-day moving average of $44.43. 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 one year low of $38.97 and a one year high of $50.63.

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

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

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.