MUFG Securities EMEA plc Purchases 25,135 Shares of Fastenal Company $FAST

Key Points

• MUFG Securities EMEA plc increased its Fastenal stake by 114.4% in Q4, buying 25,135 additional shares and bringing its total holdings to 47,102 shares worth about $1.89 million.
• Fastenal’s latest quarterly results met earnings expectations, with EPS of $0.30 and revenue of $2.20 billion, up 12.4% year over year. Analysts currently have a consensus Hold rating and a price target of $49.77.
• The company also paid a quarterly dividend of $0.24 per share, equal to an annualized yield of 2.2%. Fastenal’s shares recently traded at $43.99, below the 52-week high of $50.63.

MUFG Securities EMEA plc raised its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 114.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,102 shares of the company's stock after purchasing an additional 25,135 shares during the period. MUFG Securities EMEA plc's holdings in Fastenal were worth $1,890,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares in the last quarter. National Pension Service boosted its position in Fastenal by 3.6% in the third quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after buying an additional 53,888 shares in the last quarter. Franklin Resources Inc. boosted its position in Fastenal by 1.2% in the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after buying an additional 90,095 shares in the last quarter. BlueStem Wealth Partners LLC bought a new stake in shares of Fastenal during the third quarter worth $634,000. Finally, Arjuna Capital acquired a new position in shares of Fastenal during the third quarter worth $3,999,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Fastenal in a report on Friday, March 27th. Bank of America increased their target price on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Barclays lifted their price target on Fastenal from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Wolfe Research lowered their price objective on Fastenal from $46.00 to $45.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Fastenal currently has a consensus rating of "Hold" and a consensus price target of $49.77.

Fastenal Stock Performance

Shares of FAST stock opened at $43.99 on Tuesday. The stock has a market capitalization of $50.50 billion, a PE ratio of 38.59, a PEG ratio of 2.82 and a beta of 0.73. The business's 50 day simple moving average is $44.95 and its 200 day simple moving average is $43.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, April 28th. Fastenal's dividend payout ratio (DPR) is presently 84.21%.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.28% of the company's stock.

About Fastenal

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.