Fastenal Company $FAST Holdings Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 27.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,545 shares of the company’s stock after selling 88,718 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fastenal were worth $11,115,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Fastenal by 1.2% during the 4th quarter. State Street Corp now owns 54,734,674 shares of the company’s stock valued at $2,196,502,000 after purchasing an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fastenal by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock worth $1,898,031,000 after buying an additional 919,158 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock valued at $1,508,216,000 after buying an additional 685,047 shares during the period. Invesco Ltd. lifted its holdings in shares of Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after buying an additional 2,242,116 shares during the period. Finally, Norges Bank bought a new position in Fastenal during the fourth quarter valued at about $646,046,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 0.4%

Fastenal stock opened at $47.10 on Friday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. 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 firm has a market cap of $54.07 billion, a PE ratio of 41.32, a P/E/G ratio of 3.00 and a beta of 0.73. The firm’s 50 day moving average price is $45.06 and its two-hundred day moving average price is $44.62.

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

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Fastenal’s payout ratio is 84.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FAST. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Morgan Stanley restated a “positive” rating and set a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Bank of America lifted their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Barclays set a $46.00 price objective on 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, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $49.57.

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.