Andra AP fonden Has $40.58 Million Position in Fastenal Company $FAST

Andra AP fonden boosted its position in Fastenal Company (NASDAQ:FAST) by 243.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 966,100 shares of the company’s stock after purchasing an additional 685,000 shares during the quarter. Andra AP fonden owned about 0.08% of Fastenal worth $40,576,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FAST. Riverview Trust Co grew its stake in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Hilltop National Bank acquired a new stake in Fastenal in the 2nd quarter worth about $27,000. Private Wealth Management Group LLC boosted its holdings in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. grew its position in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Fastenal by 95.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,178 shares of company stock worth $4,336,603 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FAST. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Finally, Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $46.50.

Fastenal Price Performance

Shares of FAST stock opened at $41.68 on Thursday. The business has a fifty day simple moving average of $45.94 and a 200 day simple moving average of $44.38. The company has a market cap of $47.85 billion, a P/E ratio of 38.95, a P/E/G ratio of 3.75 and a beta of 0.92. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio is currently 82.24%.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.