Livforsakringsbolaget Skandia Omsesidigt Has $70,000 Position in Fastenal (NASDAQ:FAST)

Livforsakringsbolaget Skandia Omsesidigt raised its position in Fastenal (NASDAQ:FAST) by 77.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,084 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fastenal were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Fastenal by 3.7% during the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Fastenal during the 4th quarter worth about $13,204,000. Assenagon Asset Management S.A. lifted its stake in shares of Fastenal by 178.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after buying an additional 49,972 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fastenal during the 3rd quarter worth about $1,293,000. Finally, Kampmann Melissa S. acquired a new stake in shares of Fastenal during the 3rd quarter worth about $2,777,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Fastenal Price Performance

FAST stock opened at $67.57 on Friday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The firm has a market cap of $38.69 billion, a P/E ratio of 33.45, a P/E/G ratio of 3.53 and a beta of 1.05. The company’s 50-day moving average price is $73.62 and its two-hundred day moving average price is $66.29.

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

Fastenal Dividend Announcement

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

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Daniel L. Johnson purchased 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders have sold a total of 71,640 shares of company stock valued at $5,044,657 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

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.