Swedbank AB Has $25.33 Million Holdings in Fastenal (NASDAQ:FAST)

Swedbank AB lifted its position in Fastenal (NASDAQ:FAST) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,618 shares of the company’s stock after acquiring an additional 6,659 shares during the period. Swedbank AB owned approximately 0.06% of Fastenal worth $25,327,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FAST. ProShare Advisors LLC raised its holdings in Fastenal by 497.3% during the 1st quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock worth $239,083,000 after buying an additional 2,580,478 shares during the period. Marshall Wace LLP raised its holdings in Fastenal by 4,008.2% during the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after buying an additional 737,833 shares during the period. Dimensional Fund Advisors LP raised its holdings in Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after buying an additional 636,546 shares during the period. Renaissance Technologies LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $37,659,000. Finally, TD Asset Management Inc raised its holdings in Fastenal by 21.2% during the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after buying an additional 569,118 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a research note on Monday. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday. Morgan Stanley raised their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday. Bank of America assumed coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Jefferies Financial Group decreased their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $73.33.

Insider Transactions at Fastenal

In other news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Lewis Soderberg sold 488 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,799 shares of company stock valued at $9,967,510. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Trading Up 1.1 %

FAST stock opened at $77.77 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The company has a fifty day moving average price of $69.46 and a two-hundred day moving average price of $67.95. Fastenal has a one year low of $56.41 and a one year high of $79.04. The stock has a market cap of $44.53 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

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.