E. Ohman J or Asset Management AB Has $1.80 Million Holdings in Fastenal (NASDAQ:FAST)

E. Ohman J or Asset Management AB raised its stake in Fastenal (NASDAQ:FAST) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Fastenal were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at approximately $310,000. Comgest Global Investors S.A.S. raised its holdings in Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after purchasing an additional 36,742 shares during the period. PNC Financial Services Group Inc. raised its holdings in Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares during the period. Matrix Trust Co acquired a new position in shares of Fastenal in the 4th quarter valued at $1,756,000. Finally, Franklin Resources Inc. grew its holdings in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after buying an additional 165,423 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $73.19 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business has a 50-day moving average of $76.23 and a 200-day moving average of $73.82. The stock has a market capitalization of $41.93 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 3.48 and a beta of 1.02. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wolfe Research lifted their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus target price of $76.91.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,772 shares of company stock worth $5,365,455 over the last quarter. 0.41% of the stock is currently owned by insiders.

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.