Skandinaviska Enskilda Banken AB publ Sells 44,200 Shares of Fastenal (NASDAQ:FAST)

Skandinaviska Enskilda Banken AB publ lowered its stake in Fastenal (NASDAQ:FAST) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,571 shares of the company’s stock after selling 44,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fastenal were worth $12,263,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Fastenal in the third quarter valued at $25,000. Knuff & Co LLC bought a new stake in Fastenal in the third quarter valued at $27,000. OFI Invest Asset Management bought a new stake in Fastenal in the fourth quarter valued at $46,000. Whipplewood Advisors LLC bought a new stake in Fastenal in the fourth quarter valued at $49,000. Finally, SBI Securities Co. Ltd. bought a new stake in Fastenal in the fourth quarter valued at $49,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST opened at $75.26 on Friday. The stock has a 50-day moving average price of $74.74 and a 200-day moving average price of $75.24. 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 firm has a market cap of $43.16 billion, a PE ratio of 37.44, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 1 year low of $61.36 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. Fastenal’s payout ratio is 85.57%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FAST. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Wolfe Research boosted their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Jefferies Financial Group boosted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus dropped their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.91.

About Fastenal

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.