Andra AP fonden Cuts Position in Fastenal (NASDAQ:FAST)

Andra AP fonden reduced its position in shares of Fastenal (NASDAQ:FAST) by 91.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,900 shares of the company’s stock after selling 283,000 shares during the period. Andra AP fonden’s holdings in Fastenal were worth $1,791,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. E Fund Management Co. Ltd. increased its stake in Fastenal by 33.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 8,235 shares of the company’s stock worth $592,000 after buying an additional 2,047 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its stake in Fastenal by 2.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 39,752 shares of the company’s stock worth $2,859,000 after buying an additional 958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Fastenal during the 4th quarter worth approximately $101,183,000. Cullen Frost Bankers Inc. increased its stake in Fastenal by 10.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 143,424 shares of the company’s stock worth $10,314,000 after buying an additional 13,282 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Fastenal by 1.4% during the 4th quarter. Arizona State Retirement System now owns 166,301 shares of the company’s stock worth $11,959,000 after buying an additional 2,267 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Trading Up 2.7 %

FAST opened at $79.98 on Monday. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market capitalization of $45.86 billion, a PE ratio of 39.79, a P/E/G ratio of 3.58 and a beta of 1.05. The business’s 50 day moving average price is $74.27 and its 200 day moving average price is $75.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.15%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

FAST has been the subject of several research reports. Jefferies Financial Group boosted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. UBS Group started coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Company 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.