Fastenal Company (NASDAQ:FAST) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. reduced its holdings in Fastenal Company by 6.6%, owning 146,447 shares valued at approximately $11.36 million after selling 10,317 shares in the first quarter.
• Company insiders have recently sold a total of 137,112 shares worth over $6 million, leading to a significant decrease in their ownership, which now stands at just 0.37%.
• Analysts have varied ratings for Fastenal, with an average target price of $46.36 and a consensus rating of "Hold", reflecting mixed investor sentiment towards the company's stock performance.

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,447 shares of the company's stock after selling 10,317 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Fastenal were worth $11,357,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FAST. Horizon Financial Services LLC increased its holdings in shares of Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Fastenal by 481.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock worth $44,000 after purchasing an additional 506 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Fastenal in the first quarter worth $49,000. TruNorth Capital Management LLC bought a new position in shares of Fastenal in the first quarter worth $57,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Fastenal by 5,661.5% in the first quarter. Golden State Wealth Management LLC now owns 749 shares of the company's stock valued at $58,000 after buying an additional 736 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Transactions at Fastenal

In related news, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider owned 11,880 shares of the company's stock, valued at $570,834. This represents a 80.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Lewis Soderberg sold 34,612 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,112 shares of company stock worth $6,304,410. Company insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

FAST has been the subject of several analyst reports. Wolfe Research reaffirmed a "positive" rating on shares of Fastenal in a report on Monday, July 14th. Loop Capital reissued a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. Stephens increased their price objective on Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. Finally, Stifel Nicolaus set a $82.00 price target on Fastenal in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $46.36.

Fastenal Stock Performance

FAST opened at $48.45 on Wednesday. Fastenal Company has a 12-month low of $32.04 and a 12-month high of $48.54. The stock has a market cap of $55.60 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 4.36 and a beta of 0.95. The business has a 50 day moving average of $44.10 and a 200-day moving average of $40.67. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%. The business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.8%. Fastenal's dividend payout ratio (DPR) is 84.62%.

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.

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