Andra AP fonden Sells 559,081 Shares of Fastenal Company $FAST

Andra AP fonden decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 54.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 469,019 shares of the company’s stock after selling 559,081 shares during the period. Andra AP fonden’s holdings in Fastenal were worth $21,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Elyxium Wealth LLC bought a new position in shares of Fastenal in the fourth quarter worth about $25,000. Palladiem LLC acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $25,000. Evergreen Advisors LLC acquired a new stake in shares of Fastenal in the first quarter valued at approximately $26,000. MV Capital Management Inc. bought a new position in Fastenal in the 4th quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new position in Fastenal during the 4th quarter worth $30,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 1.6%

NASDAQ:FAST opened at $44.76 on Tuesday. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $50.63. The business’s 50-day moving average price is $45.74 and its two-hundred day moving average price is $45.23. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $51.36 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.85 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. On average, equities analysts expect that Fastenal Company will post 1.25 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 81.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, July 8th. Barclays lowered their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and set a $47.00 target price on shares of Fastenal in a research report on Thursday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

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.