Fastenal Company $FAST Shares Purchased by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 32.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the company’s stock after purchasing an additional 17,000 shares during the period. BLI Banque de Luxembourg Investments’ holdings in Fastenal were worth $2,862,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FAST. Vanguard Group Inc. grew its stake in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after acquiring an additional 2,346,045 shares during the period. Franklin Resources Inc. grew its stake in Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock worth $362,282,000 after acquiring an additional 90,095 shares during the period. BlueStem Wealth Partners LLC purchased a new stake in Fastenal in the 3rd quarter worth approximately $634,000. Cibc World Market Inc. grew its stake in Fastenal by 99.9% in the 3rd quarter. Cibc World Market Inc. now owns 290,834 shares of the company’s stock worth $14,262,000 after acquiring an additional 145,340 shares during the period. Finally, Stance Capital LLC grew its stake in Fastenal by 653.1% in the 3rd quarter. Stance Capital LLC now owns 54,976 shares of the company’s stock worth $2,696,000 after acquiring an additional 47,676 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Up 1.3%

Shares of NASDAQ FAST opened at $46.58 on Wednesday. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The firm has a fifty day moving average of $45.13 and a 200-day moving average of $44.12. The stock has a market capitalization of $53.48 billion, a PE ratio of 40.86, a P/E/G ratio of 2.92 and a beta of 0.73. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data 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 net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Fastenal Company will post 1.24 EPS for the current year.

Fastenal Announces Dividend

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

Analysts Set New Price Targets

FAST has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Bank of America lifted their target price on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Finally, Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average target price of $49.85.

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.