Van ECK Associates Corp Increases Stock Holdings in Fastenal (NASDAQ:FAST)

Van ECK Associates Corp increased its holdings in Fastenal (NASDAQ:FAST) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,713 shares of the company’s stock after acquiring an additional 5,509 shares during the quarter. Van ECK Associates Corp’s holdings in Fastenal were worth $6,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. lifted its position in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Fastenal during the fourth quarter valued at $35,000. Criterion Capital Advisors LLC bought a new stake in Fastenal during the 4th quarter valued at about $43,000. Pacific Center for Financial Services bought a new stake in shares of Fastenal during the third quarter valued at approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $68.43 on Friday. Fastenal has a 12 month low of $52.85 and a 12 month high of $79.04. The stock has a market cap of $39.18 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.57 and a beta of 1.07. The company’s 50 day moving average is $73.21 and its two-hundred day moving average is $67.01. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Fastenal’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus upped their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Loop Capital cut their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal 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.