Swiss National Bank Sells 50,900 Shares of Fastenal (NASDAQ:FAST)

Swiss National Bank decreased its position in shares of Fastenal (NASDAQ:FAST) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,786,600 shares of the company’s stock after selling 50,900 shares during the period. Swiss National Bank owned about 0.31% of Fastenal worth $115,718,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Essex Financial Services Inc. boosted its position in shares of Fastenal by 1.8% in the 4th quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock worth $553,000 after purchasing an additional 148 shares in the last quarter. Hartford Financial Management Inc. increased its holdings in shares of Fastenal by 46.9% during 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 in the last quarter. Empirical Asset Management LLC raised its position in shares of Fastenal by 2.4% in the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after purchasing an additional 171 shares during the last quarter. Berkshire Bank boosted its stake in Fastenal by 3.1% in the 3rd quarter. Berkshire Bank now owns 5,777 shares of the company’s stock worth $316,000 after purchasing an additional 174 shares in the last quarter. Finally, OmniStar Financial Group Inc. boosted its stake in Fastenal by 1.1% in the 3rd quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock worth $873,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders sold 36,082 shares of company stock worth $2,584,060 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FAST. Loop Capital cut their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Robert W. Baird reduced their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HSBC raised their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $67.67.

Fastenal Price Performance

NASDAQ:FAST opened at $68.43 on Friday. The company has a market capitalization of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.56 and a beta of 1.07. The business’s 50-day moving average is $73.21 and its 200 day moving average is $67.01. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $52.85 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business earned $0.52 EPS. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

About Fastenal

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.