ASR Vermogensbeheer N.V. Increases Stake in Fastenal Company $FAST

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Fastenal by 429.8% in Q4, buying an extra 512,044 shares to hold 631,184 shares worth about $25.33 million (≈0.05% of the company).
• Fastenal reported quarterly EPS of $0.30 (in line) and revenue of $2.20B (vs. $2.19B), with revenue up 12.4% year-over-year; the company declared a quarterly dividend of $0.24 ($0.96 annualized, ~2.2% yield; ex-dividend Apr 28, payable May 26).
• Insiders own 0.28% while institutions hold ~81.38%; Director Reyne K. Wisecup sold 36,920 shares for about $1.75M, and analysts' consensus is an average rating of Hold with a $49.77 average price target.

ASR Vermogensbeheer N.V. boosted its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 429.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 631,184 shares of the company's stock after purchasing an additional 512,044 shares during the period. ASR Vermogensbeheer N.V. owned about 0.05% of Fastenal worth $25,329,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. REAP Financial Group LLC purchased a new position in Fastenal in the 3rd quarter worth approximately $30,000. Field & Main Bank purchased a new position in Fastenal in the 4th quarter worth approximately $30,000. First Horizon Corp purchased a new position in Fastenal in the 3rd quarter worth approximately $33,000. Manning & Napier Advisors LLC purchased a new position in Fastenal in the 3rd quarter worth approximately $35,000. Finally, Tradewinds Capital Management LLC purchased a new position in Fastenal in the 4th quarter worth approximately $35,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FAST shares. Bank of America lifted their price target on Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Benchmark reiterated a "buy" rating on shares of Fastenal in a research report on Thursday, March 5th. Morgan Stanley reiterated a "positive" rating and issued a $45.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. Raymond James Financial set a $48.00 price objective on Fastenal in a research report on Thursday, March 5th. Finally, Robert W. Baird cut their price objective on Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 14th. Five equities 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $49.77.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the sale, the director directly owned 40,000 shares of the company's stock, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is currently owned by insiders.

Fastenal Price Performance

Shares of FAST stock opened at $44.36 on Friday. The stock has a market cap of $50.93 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.85 and a beta of 0.75. The business's fifty day moving average is $45.63 and its 200 day moving average is $43.62. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $2.20 billion for 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 firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. Research analysts expect that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal's dividend payout ratio is presently 84.21%.

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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