Fastenal Company $FAST Shares Sold by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension cut its stake in Fastenal Company (NASDAQ:FAST) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,415 shares of the company’s stock after selling 12,158 shares during the period. Fastenal makes up approximately 0.7% of Arbejdsmarkedets Tillaegspension’s investment portfolio, making the stock its 13th biggest position. Arbejdsmarkedets Tillaegspension’s holdings in Fastenal were worth $26,189,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FAST. Palladiem LLC acquired a new stake in Fastenal during the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new position in Fastenal during the 4th quarter valued at about $25,000. MV Capital Management Inc. acquired a new position in shares of Fastenal in the 4th quarter valued at about $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at about $36,000. Finally, Field & Main Bank purchased a new stake in shares of Fastenal in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FAST. Bank of America raised their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Morgan Stanley set a $48.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday. Wolfe Research restated an “underperform” rating and issued a $47.00 price objective on shares of Fastenal in a research note on Thursday. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.75.

Fastenal Price Performance

Shares of FAST stock opened at $46.49 on Monday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The firm has a market cap of $53.37 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.94 and a beta of 0.72. The stock has a 50-day moving average price of $45.55 and a 200 day moving average price of $45.05.

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

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.