BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stock Holdings in Fastenal Company $FAST

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Fastenal Company (NASDAQ:FAST) by 130.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,060 shares of the company’s stock after purchasing an additional 145,584 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Fastenal were worth $10,797,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in Fastenal in the first quarter worth approximately $36,000. Riverview Trust Co lifted its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Fastenal in the 1st quarter worth approximately $49,000. Private Wealth Management Group LLC lifted its holdings in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Fastenal in the 2nd quarter worth approximately $27,000. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Loop Capital restated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Stephens increased their target price on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Northcoast Research initiated coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Finally, Barclays set a $45.00 price target on Fastenal and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.50.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was bought at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director owned 9,000 shares in the company, valued at approximately $382,050. This represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 90,178 shares of company stock valued at $4,336,603 in the last quarter. 0.37% of the stock is owned by insiders.

Fastenal Price Performance

FAST stock opened at $41.30 on Wednesday. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a market cap of $47.41 billion, a P/E ratio of 38.60, a PEG ratio of 3.75 and a beta of 0.94. The firm has a 50-day moving average of $46.11 and a 200 day moving average of $44.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $0.26 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

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.