Fastenal Company $FAST Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Fastenal Company (NASDAQ:FAST) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 475,385 shares of the company’s stock after purchasing an additional 185,350 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fastenal were worth $22,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. Integrated Wealth Concepts LLC lifted its holdings in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares in the last quarter. Sittner & Nelson LLC grew its stake in shares of Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after acquiring an additional 226 shares in the last quarter. Founders Capital Management LLC increased its position in shares of Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after acquiring an additional 228 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Fastenal by 12.9% during the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after acquiring an additional 232 shares during the last quarter. Finally, L2 Asset Management LLC lifted its stake in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of FAST opened at $48.60 on Friday. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm has a market cap of $55.79 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 3.10 and a beta of 0.72. The stock has a 50 day moving average of $45.34 and a 200-day moving average of $44.86.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

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

Analyst Ratings Changes

FAST has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. DA Davidson started 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. Bank of America increased their target price on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Sanford C. Bernstein reissued an “underperform” rating and set a $42.00 price target on shares of Fastenal in a research report on Tuesday, April 14th. Finally, Wolfe Research dropped their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price of $47.08.

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.