Avanza Fonder AB Takes $4.19 Million Position in Fastenal (NASDAQ:FAST)

Avanza Fonder AB purchased a new stake in Fastenal (NASDAQ:FAST) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 58,232 shares of the company’s stock, valued at approximately $4,187,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Fastenal in the third quarter worth about $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at approximately $27,000. Moisand Fitzgerald Tamayo LLC increased its stake in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares in the last quarter. First Personal Financial Services acquired a new stake in Fastenal during the 3rd quarter worth approximately $36,000. Finally, CVA Family Office LLC lifted its stake in Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after buying an additional 180 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,660 shares of company stock valued at $6,211,126. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $76.08 on Friday. The company’s 50 day moving average price is $77.92 and its two-hundred day moving average price is $72.93. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The firm has a market cap of $43.59 billion, a PE ratio of 37.85, a PEG ratio of 3.94 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same period in the prior year, the business earned $0.46 earnings per share. Fastenal’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.26%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Stephens lifted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.27.

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.