Erste Asset Management GmbH Sells 127,322 Shares of Fastenal Company $FAST

Erste Asset Management GmbH reduced its stake in shares of Fastenal Company (NASDAQ:FAST) by 91.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,305 shares of the company’s stock after selling 127,322 shares during the period. Erste Asset Management GmbH’s holdings in Fastenal were worth $601,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal in the 2nd quarter worth about $27,000. NewSquare Capital LLC grew its position in Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 474 shares during the last quarter. MV Capital Management Inc. grew its position in Fastenal by 96.1% during the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after acquiring an additional 349 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Fastenal by 71.6% in the 3rd 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 last quarter. Finally, REAP Financial Group LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $30,000. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $46.04 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The firm has a market cap of $52.87 billion, a P/E ratio of 41.85, a P/E/G ratio of 2.94 and a beta of 0.88. The business’s 50 day moving average price is $43.88 and its 200-day moving average price is $44.33.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. On average, equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is 87.27%.

Wall Street Analyst Weigh In

FAST has been the subject of several analyst reports. Barclays set a $43.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Wolfe Research increased their target price on Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Friday. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.27.

Fastenal 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.