Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 25.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,079,269 shares of the company's stock after selling 365,216 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Fastenal worth $43,311,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock valued at $7,430,322,000 after purchasing an additional 2,346,045 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Fastenal by 14.0% in the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock valued at $893,307,000 after purchasing an additional 2,242,116 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Fastenal by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 15,604,974 shares of the company's stock valued at $765,268,000 after purchasing an additional 173,581 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fastenal by 0.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,276,145 shares of the company's stock valued at $405,860,000 after purchasing an additional 26,702 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after purchasing an additional 90,095 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.
Fastenal Stock Performance
Shares of FAST opened at $44.68 on Wednesday. The company has a market capitalization of $51.29 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. The company's fifty day moving average price is $45.77 and its 200 day moving average price is $43.54.
Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. As a group, analysts expect that Fastenal Company will post 1.23 earnings per share for the current year.
Fastenal Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, April 28th. Fastenal's dividend payout ratio (DPR) is 84.21%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FAST. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a research note on Thursday, March 5th. UBS Group reaffirmed a "neutral" rating and issued a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Finally, Barclays lifted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Fastenal currently has a consensus rating of "Hold" and a consensus target price of $49.77.
Get Our Latest Stock Report on Fastenal
Insider Buying and Selling
In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by company insiders.
Fastenal Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST - Free Report).
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