Swiss National Bank Sells 165,800 Shares of Fastenal Company $FAST

Swiss National Bank decreased its position in shares of Fastenal Company (NASDAQ:FAST) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,306,100 shares of the company’s stock after selling 165,800 shares during the period. Swiss National Bank’s holdings in Fastenal were worth $162,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares in the last quarter. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after purchasing an additional 250 shares during the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. Finally, Harfst & Associates Inc. raised its holdings in shares of Fastenal by 0.4% during the 3rd quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after buying an additional 256 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Trading Up 0.7%

Shares of FAST stock opened at $46.80 on Tuesday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock’s fifty day simple moving average is $44.47 and its 200 day simple moving average is $44.22. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $53.74 billion, a P/E ratio of 42.55, a P/E/G ratio of 2.96 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the company earned $0.46 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were issued a $0.24 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 87.27%.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the sale, the director directly owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Raymond James Financial set a $48.00 target price on shares of Fastenal in a report on Thursday. Robert W. Baird raised their price target on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group reaffirmed a “neutral” rating and set a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.83.

About Fastenal

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.