Danske Bank A S Grows Holdings in Fastenal Company $FAST

Danske Bank A S increased its position in shares of Fastenal Company (NASDAQ:FAST) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 613,140 shares of the company’s stock after purchasing an additional 41,900 shares during the quarter. Danske Bank A S’s holdings in Fastenal were worth $24,605,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the period. Founders Capital Management LLC raised its position in Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after acquiring an additional 228 shares during the period. Sowell Financial Services LLC raised its position in Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock worth $260,000 after acquiring an additional 238 shares during the period. L2 Asset Management LLC raised its position in Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares during the period. Finally, SOA Wealth Advisors LLC. raised its position in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the business’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 value of $1,747,792.80. Following the sale, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by company insiders.

Fastenal Stock Performance

NASDAQ FAST opened at $44.91 on Friday. The company’s 50 day moving average is $45.70 and its 200-day moving average is $43.56. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The firm has a market cap of $51.56 billion, a P/E ratio of 39.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Sell-side analysts predict that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is 84.21%.

Analyst Upgrades and Downgrades

Several analysts have commented on FAST shares. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Bank of America lifted their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Barclays lifted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.77.

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.