Zurcher Kantonalbank Zurich Cantonalbank Has $10.61 Million Holdings in Fastenal (NASDAQ:FAST)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Fastenal (NASDAQ:FAST) by 21.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,751 shares of the company’s stock after acquiring an additional 28,629 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fastenal were worth $10,606,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Hartford Financial Management Inc. boosted its holdings in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the fourth quarter valued at about $35,000. Sunbelt Securities Inc. boosted its position in Fastenal by 131.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 341 shares during the last quarter. Finally, Quarry LP boosted its holdings in Fastenal by 184.9% during the first quarter. Quarry LP now owns 678 shares of the company’s stock worth $37,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, insider William Joseph Drazkowski sold 11,968 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at $414,392.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the completion of the transaction, the insider now owns 5,997 shares of the company’s stock, valued at $414,392.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 23,590 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,640 shares of company stock worth $5,044,657. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC increased their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Loop Capital reduced their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Stock Performance

FAST opened at $67.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The business has a fifty day simple moving average of $73.62 and a 200 day simple moving average of $66.29. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The company has a market capitalization of $38.69 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts expect that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.31%. Fastenal’s dividend payout ratio is presently 77.23%.

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.