BI Asset Management Fondsmaeglerselskab A S Raises Holdings in Fastenal (NASDAQ:FAST)

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 216.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,843 shares of the company's stock after purchasing an additional 18,361 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Fastenal were worth $1,930,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Fastenal in the fourth quarter worth $46,000. Whipplewood Advisors LLC bought a new stake in shares of Fastenal in the fourth quarter worth $49,000. SBI Securities Co. Ltd. bought a new stake in shares of Fastenal in the fourth quarter worth $49,000. R Squared Ltd bought a new stake in shares of Fastenal in the fourth quarter worth $68,000. Finally, Eastern Bank grew its stake in shares of Fastenal by 440.7% in the fourth quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after purchasing an additional 802 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Down 1.7 %

Fastenal stock traded down $1.37 during mid-day trading on Friday, reaching $80.73. The stock had a trading volume of 3,196,449 shares, compared to its average volume of 3,094,554. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The stock's 50-day simple moving average is $76.93 and its 200-day simple moving average is $77.09. The firm has a market capitalization of $46.31 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal's stock is scheduled to split before the market opens on Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly issued shares will be issued to shareholders after the market closes on Wednesday, May 21st.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, sell-side analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be given a dividend of $0.44 per share. This is a boost from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date is Friday, April 25th. This represents a $1.76 annualized dividend and a dividend yield of 2.18%. Fastenal's payout ratio is presently 87.56%.

Insider Activity at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 15,000 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the transaction, the executive vice president now owns 5,997 shares of the company's stock, valued at approximately $487,616.07. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Robert W. Baird upped their price target on shares of Fastenal from $80.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, April 14th. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, Stephens upped their price target on shares of Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Fastenal has an average rating of "Hold" and a consensus price target of $79.10.

Fastenal 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.