Czech National Bank Has $11.78 Million Position in Fastenal Company $FAST

Key Points

• The **Czech National Bank** increased its stake in **Fastenal Company** by **112.9%**, acquiring a total of **280,426 shares**, valued at approximately **$11.78 million**.
• Fastenal's recent earnings report showed a **net income margin of 15.30%**, with revenues up **8.6%** year-over-year, resulting in earnings of **$0.29 per share**.
• The company announced a quarterly dividend of **$0.22 per share**, contributing to an annualized dividend yield of **1.9%**, while insiders sold a total of **111,230 shares** worth over **$5.28 million** in recent months.

Czech National Bank boosted its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 112.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 280,426 shares of the company's stock after acquiring an additional 148,721 shares during the quarter. Czech National Bank's holdings in Fastenal were worth $11,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FAST. Garde Capital Inc. boosted its holdings in shares of Fastenal by 4,900.0% during the second quarter. Garde Capital Inc. now owns 750 shares of the company's stock worth $32,000 after purchasing an additional 735 shares during the period. 1248 Management LLC acquired a new stake in shares of Fastenal during the 1st quarter valued at $36,000. Horizon Financial Services LLC boosted its stake in shares of Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after buying an additional 533 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Fastenal during the 1st quarter valued at $49,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Fastenal during the 1st quarter valued at $57,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $82.00 price objective on Fastenal in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price target on Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, September 4th. Wolfe Research reiterated a "positive" rating on shares of Fastenal in a report on Monday, July 14th. Northcoast Research initiated coverage on Fastenal in a report on Thursday, August 21st. They set a "neutral" rating for the company. Finally, Robert W. Baird upgraded shares of Fastenal from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $47.00 to $55.00 in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and a consensus target price of $46.82.

Insiders Place Their Bets

In other news, EVP John Lewis Soderberg sold 34,612 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider owned 11,880 shares of the company's stock, valued at approximately $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,230 shares of company stock worth $5,288,364 over the last quarter. 0.37% of the stock is currently owned by company insiders.

Fastenal Stock Performance

FAST traded up $0.10 on Thursday, hitting $47.22. The company had a trading volume of 5,624,792 shares, compared to its average volume of 5,421,562. The company's fifty day moving average price is $47.76 and its 200 day moving average price is $42.82. Fastenal Company has a 1-year low of $34.69 and a 1-year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The stock has a market cap of $54.19 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 4.29 and a beta of 0.97.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The business had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Fastenal's revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal's payout ratio is currently 84.62%.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.