ABN Amro Investment Solutions Acquires 53,677 Shares of Fastenal Company $FAST

ABN Amro Investment Solutions increased its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 531.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,779 shares of the company's stock after purchasing an additional 53,677 shares during the quarter. ABN Amro Investment Solutions' holdings in Fastenal were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAST. Integrated Wealth Concepts LLC raised its stake in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $487,000 after buying an additional 147 shares during the period. Founders Capital Management LLC raised its stake in shares of Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company's stock worth $418,000 after buying an additional 228 shares during the period. L2 Asset Management LLC raised its stake in shares of Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock worth $264,000 after buying an additional 248 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Fastenal by 1.4% in the third quarter. Quadrant Capital Group LLC now owns 19,415 shares of the company's stock worth $952,000 after buying an additional 260 shares during the period. Finally, KLCM Advisors Inc. raised its stake in shares of Fastenal by 0.8% in the third quarter. KLCM Advisors Inc. now owns 33,800 shares of the company's stock worth $1,658,000 after buying an additional 260 shares during the period. 81.38% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company's stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $43.94 on Friday. The stock has a market cap of $50.44 billion, a price-to-earnings ratio of 38.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The stock has a 50 day moving average price of $45.06 and a 200-day moving average price of $43.72. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Equities analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal's dividend payout ratio (DPR) is currently 84.21%.

Analysts Set New Price Targets

Several research firms have recently commented on FAST. JPMorgan Chase & Co. raised their price objective on Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Morgan Stanley reaffirmed a "positive" rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Barclays raised their price objective on 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 price objective on Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.77.

Fastenal Profile

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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