Fastenal Company $FAST Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 63.9% in the 1st quarter, Holdings Channel reports. The firm owned 475,385 shares of the company’s stock after acquiring an additional 185,350 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fastenal were worth $22,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Palladiem LLC bought a new position in Fastenal during the 4th quarter worth $25,000. Elyxium Wealth LLC bought a new stake in Fastenal in the fourth quarter valued at $25,000. MV Capital Management Inc. bought a new stake in Fastenal in the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new stake in Fastenal in the third quarter valued at $36,000. Finally, Field & Main Bank acquired a new position in shares of Fastenal during the fourth quarter valued at $30,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of FAST opened at $48.60 on Friday. The firm has a market capitalization of $55.79 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 3.10 and a beta of 0.72. 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 one year low of $38.97 and a one year high of $50.63. The stock’s fifty day moving average is $45.34 and its 200-day moving average is $44.86.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FAST shares. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. DA Davidson started coverage on shares of Fastenal in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price objective on the stock. Barclays set a $46.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Wolfe Research decreased their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.08.

Fastenal Company 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.