Arbejdsmarkedets Tillaegspension Invests $23.14 Million in Fastenal Company $FAST

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new stake in Fastenal, buying 576,573 shares worth about $23.14 million in the fourth quarter.
• Fastenal’s latest quarterly results matched expectations, with EPS of $0.30 and revenue of $2.20 billion, while sales rose 12.4% year over year.
• The company also declared a quarterly dividend of $0.24 per share, and analysts currently have a consensus Hold rating with an average price target of $49.77.

Arbejdsmarkedets Tillaegspension bought a new stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 576,573 shares of the company's stock, valued at approximately $23,138,000. Arbejdsmarkedets Tillaegspension owned 0.05% of Fastenal at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Fastenal by 1.6% in 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 last quarter. National Pension Service boosted its position in shares of Fastenal by 3.6% during the third quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after buying an additional 53,888 shares during the period. Franklin Resources Inc. raised its stake in shares of Fastenal by 1.2% during the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after acquiring an additional 90,095 shares in the last quarter. BlueStem Wealth Partners LLC bought a new stake in shares of Fastenal during the third quarter valued at approximately $634,000. Finally, Arjuna Capital bought a new position in Fastenal in the third quarter worth approximately $3,999,000. Institutional investors own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FAST shares. Barclays upped their price target on shares of Fastenal from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. UBS Group restated a "neutral" rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Benchmark reissued a "buy" rating on shares of Fastenal in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Five equities 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $49.77.

Insider Transactions at Fastenal

In related news, Director Reyne K. Wisecup sold 36,920 shares of the 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 represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.28% of the company's stock.

Fastenal Stock Performance

FAST stock opened at $43.26 on Friday. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The firm has a 50 day simple moving average of $45.36 and a 200 day simple moving average of $43.64. The stock has a market cap of $49.66 billion, a P/E ratio of 37.95, a P/E/G ratio of 2.80 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.

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

Fastenal Dividend Announcement

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

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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