91,698 Shares in Fastenal Company $FAST Acquired by Fideuram Asset Management Ireland dac

Key Points

• Fideuram Asset Management Ireland dac initiated a new position in Fastenal during the fourth quarter, ખરીbuying 91,698 shares valued at about $4.04 million.
• Fastenal’s latest quarter showed EPS of $0.30, matching analyst expectations, while revenue came in at $2.20 billion and rose 12.4% year over year.
• Wall Street sentiment is mixed: the stock currently has a Hold consensus rating with an average price target of $49.77, while Fastenal also recently paid a $0.24 quarterly dividend yielding about 2.1%.

Fideuram Asset Management Ireland dac bought a new position in shares of Fastenal Company (NASDAQ:FAST - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 91,698 shares of the company's stock, valued at approximately $4,041,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock worth $7,430,322,000 after buying an additional 2,346,045 shares during the period. Geode Capital Management LLC increased its stake in Fastenal by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company's stock worth $1,508,216,000 after buying an additional 685,047 shares during the period. Invesco Ltd. increased its stake in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock worth $893,307,000 after buying an additional 2,242,116 shares during the period. Bank of America Corp DE increased its stake in Fastenal by 1.1% during the 3rd quarter. Bank of America Corp DE now owns 15,604,974 shares of the company's stock worth $765,268,000 after buying an additional 173,581 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fastenal by 0.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,276,145 shares of the company's stock worth $405,860,000 after buying an additional 26,702 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FAST. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fastenal in a research note on Friday, March 27th. Sanford C. Bernstein reaffirmed an "underperform" rating and set a $42.00 target price on shares of Fastenal in a research note on Tuesday, April 14th. Wolfe Research cut their target price on shares of Fastenal from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Barclays upped their target price on shares of Fastenal from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Finally, Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $49.77.

Fastenal Trading Down 0.1%

Shares of Fastenal stock opened at $44.76 on Friday. The company has a fifty day simple moving average of $44.98 and a 200-day simple moving average of $43.83. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock has a market cap of $51.39 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.86 and a beta of 0.75.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were issued a $0.24 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal's dividend payout ratio is presently 84.21%.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.28% of the company's stock.

About Fastenal

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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