Generali Asset Management SPA SGR Has $39,000 Stock Holdings in Fastenal Company $FAST

Key Points

• Generali Asset Management sharply reduced its Fastenal stake by 98.9% in the fourth quarter, ending with just 964 shares valued at about $39,000.
• Fastenal’s latest quarterly results were solid, with $0.30 EPS matching estimates and revenue of $2.20 billion, up 12.4% year over year.
• The company announced a quarterly dividend of $0.24 per share, while analysts currently rate the stock a Hold on average with a consensus price target of $49.77.

Generali Asset Management SPA SGR trimmed its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 964 shares of the company's stock after selling 90,673 shares during the quarter. Generali Asset Management SPA SGR's holdings in Fastenal were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Fastenal by 106.1% during the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company's stock worth $648,118,000 after buying an additional 7,943,217 shares during the last quarter. Vanguard Group Inc. grew its stake in Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock valued at $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. Invesco Ltd. grew its stake in Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock valued at $893,307,000 after buying an additional 2,242,116 shares during the last quarter. American Century Companies Inc. raised its holdings in Fastenal by 90.7% in the 3rd quarter. American Century Companies Inc. now owns 3,590,292 shares of the company's stock valued at $176,068,000 after acquiring an additional 1,707,396 shares during the period. Finally, Raymond James Financial Inc. lifted its position in Fastenal by 112.1% during the second quarter. Raymond James Financial Inc. now owns 2,771,861 shares of the company's stock worth $116,418,000 after acquiring an additional 1,464,781 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company's stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $44.17 on Monday. The stock has a fifty day moving average price of $45.63 and a 200-day moving average price of $43.62. The company has a market cap of $50.71 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.81 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 Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63.

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

Fastenal Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FAST. Bank of America boosted their price objective on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Raymond James Financial set a $48.00 price target on Fastenal in a report on Thursday, March 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Fastenal in a research note on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on Fastenal from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Finally, Sanford C. Bernstein reissued an "underperform" rating and set a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of "Hold" and a consensus price target of $49.77.

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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