Raiffeisen Bank International AG Grows Stock Holdings in Fastenal Company (NASDAQ:FAST)

Key Points

• Raiffeisen Bank International AG has increased its stake in Fastenal Company by 21.5%, acquiring an additional 6,303 shares, bringing its total holdings to 35,606 shares valued at approximately $2.71 million.
• Fastenal reported earnings per share of $0.29 for the last quarter, exceeding the consensus estimate of $0.28, while revenue climbed to $2.08 billion, reflecting an 8.6% year-over-year increase.
• The company has announced a quarterly dividend of $0.22 per share, with a current dividend yield of 1.9%, although its payout ratio stands at 84.62%.

Raiffeisen Bank International AG lifted its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,606 shares of the company's stock after purchasing an additional 6,303 shares during the period. Raiffeisen Bank International AG's holdings in Fastenal were worth $2,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Horizon Financial Services LLC boosted its holdings in Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after purchasing an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Fastenal by 481.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock valued at $44,000 after purchasing an additional 506 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in Fastenal in the 1st quarter valued at about $57,000. Golden State Wealth Management LLC lifted its holdings in shares of Fastenal by 5,661.5% in the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company's stock worth $58,000 after acquiring an additional 736 shares during the last quarter. Finally, Close Asset Management Ltd lifted its holdings in shares of Fastenal by 156.4% in the 1st quarter. Close Asset Management Ltd now owns 800 shares of the company's stock worth $62,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In other Fastenal news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the transaction, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. The trade was a 67.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Lewis Soderberg sold 32,724 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $41.23, for a total value of $1,349,046.90. The disclosure for this sale can be found here. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FAST. Wolfe Research restated a "positive" rating on shares of Fastenal in a report on Monday, July 14th. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. Loop Capital restated a "hold" rating on shares of Fastenal in a report on Tuesday, July 15th. Robert W. Baird increased their target price on shares of Fastenal from $43.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $45.64.

Fastenal Stock Performance

Shares of FAST stock traded up $1.34 during mid-day trading on Wednesday, hitting $46.78. The stock had a trading volume of 6,308,177 shares, compared to its average volume of 6,679,628. Fastenal Company has a fifty-two week low of $32.04 and a fifty-two week high of $48.10. The firm has a market cap of $53.69 billion, a PE ratio of 44.98, a PEG ratio of 4.13 and a beta of 0.95. 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 company's 50-day simple moving average is $43.45 and its 200-day simple moving average is $40.33.

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

Fastenal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 29th. Fastenal's payout ratio is currently 84.62%.

Fastenal 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.