Danske Bank A S Has $24.61 Million Stock Holdings in Fastenal Company $FAST

Key Points

• Danske Bank raised its stake in Fastenal by 7.3% in Q4 to 613,140 shares, worth about $24.61 million.
• Director Reyne K. Wisecup sold 36,920 shares on March 5 at an average $47.34, cutting their holding by 48% to 40,000 shares; company insiders now own about 0.28% of Fastenal.
• Fastenal reported quarterly EPS $0.30 (in line with estimates) on $2.20B revenue (+12.4% y/y), declared a $0.24 quarterly dividend (≈2.1% yield), and has an average analyst rating of Hold with a $49.77 target.

Danske Bank A S boosted its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 613,140 shares of the company's stock after purchasing an additional 41,900 shares during the quarter. Danske Bank A S owned about 0.05% of Fastenal worth $24,605,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in 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 purchasing an additional 147 shares during the period. Founders Capital Management LLC grew its holdings in shares of Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company's stock valued at $418,000 after buying an additional 228 shares during the last quarter. Sowell Financial Services LLC grew its holdings in shares of Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company's stock valued at $260,000 after buying an additional 238 shares during the last quarter. L2 Asset Management LLC grew its holdings in shares of Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock valued at $264,000 after buying an additional 248 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company's stock valued at $30,000 after buying an additional 255 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FAST. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. UBS Group reiterated a "neutral" rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Robert W. Baird reduced their price objective on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fastenal has an average rating of "Hold" and an average target price of $49.77.

Fastenal Stock Down 0.0%

Fastenal stock opened at $44.91 on Friday. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The stock has a market cap of $51.56 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. The firm's 50-day simple moving average is $45.70 and its 200 day simple moving average is $43.56. 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 released 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. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts predict 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 issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal's 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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