BI Asset Management Fondsmaeglerselskab A S Raises Stock Holdings in Fastenal (NASDAQ:FAST)

BI Asset Management Fondsmaeglerselskab A S increased its holdings in Fastenal (NASDAQ:FAST) by 98.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,301 shares of the company’s stock after acquiring an additional 58,726 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fastenal were worth $9,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $405,513,000. Confluence Investment Management LLC acquired a new position in Fastenal in the 1st quarter valued at $195,459,000. TD Asset Management Inc raised its position in Fastenal by 112.9% during the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock worth $173,566,000 after buying an additional 1,420,763 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Fastenal by 15.2% in the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after acquiring an additional 1,043,529 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Fastenal by 46.2% during the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after acquiring an additional 1,006,402 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of recent analyst reports. Loop Capital reduced their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird reduced their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Stifel Nicolaus upped their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.80.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $221,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

Fastenal Price Performance

NASDAQ FAST traded up $0.32 during mid-day trading on Wednesday, hitting $62.88. The stock had a trading volume of 556,503 shares, compared to its average volume of 3,685,558. The company has a 50 day simple moving average of $65.11 and a 200 day simple moving average of $68.56. The company has a market cap of $36.00 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.36 and a beta of 1.01. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that Fastenal will post 2.08 EPS for the current fiscal year.

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.