AMF Tjanstepension AB Decreases Position in Fastenal (NASDAQ:FAST)

AMF Tjanstepension AB reduced its position in shares of Fastenal (NASDAQ:FAST) by 31.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,657 shares of the company’s stock after selling 88,317 shares during the period. AMF Tjanstepension AB’s holdings in Fastenal were worth $14,724,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. 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 purchasing an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal during the fourth quarter worth approximately $35,000. Criterion Capital Advisors LLC bought a new stake in shares of Fastenal in the fourth quarter worth $43,000. First Horizon Advisors Inc. raised its holdings in Fastenal by 283.2% in the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after acquiring an additional 558 shares in the last quarter. Finally, Frazier Financial Advisors LLC bought a new position in Fastenal during the 4th quarter valued at $52,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Stock Down 0.8 %

Shares of Fastenal stock opened at $62.84 on Friday. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The company has a market capitalization of $35.98 billion, a P/E ratio of 31.11, a PEG ratio of 3.38 and a beta of 1.02. The business’s fifty day moving average price is $65.84 and its two-hundred day moving average price is $68.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, research analysts forecast that Fastenal will post 2.08 EPS for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.48%. Fastenal’s payout ratio is presently 77.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on FAST shares. Robert W. Baird lowered their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. HSBC lifted 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 lifted their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.80.

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.