Fastenal (NASDAQ:FAST) Holdings Raised by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Fastenal (NASDAQ:FAST) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 359,537 shares of the company’s stock after acquiring an additional 34,896 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Fastenal worth $22,590,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in shares of Fastenal by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after buying an additional 312 shares during the period. Kingsview Wealth Management LLC acquired a new position in Fastenal in the fourth quarter valued at approximately $207,000. Coldstream Capital Management Inc. boosted its stake in Fastenal by 58.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,612 shares of the company’s stock valued at $493,000 after acquiring an additional 2,810 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Fastenal by 2.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,399,192 shares of the company’s stock valued at $90,626,000 after purchasing an additional 33,865 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Fastenal by 7.3% during the 4th quarter. D.A. Davidson & CO. now owns 19,740 shares of the company’s stock worth $1,279,000 after purchasing an additional 1,341 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Fastenal Price Performance

Shares of FAST opened at $70.75 on Friday. Fastenal has a one year low of $53.83 and a one year high of $79.04. The stock’s fifty day moving average is $68.05 and its 200-day moving average is $68.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The firm has a market capitalization of $40.51 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a $0.39 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.20%. Fastenal’s dividend payout ratio is presently 77.61%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley began coverage on Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Stephens restated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group reduced their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.43.

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.