Sumitomo Mitsui Trust Holdings Inc. Increases Position in Fastenal (NASDAQ:FAST)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,533,451 shares of the company's stock after acquiring an additional 98,544 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Fastenal worth $99,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Fastenal by 3.7% in the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company's stock worth $58,304,000 after purchasing an additional 31,814 shares during the period. International Assets Investment Management LLC bought a new position in Fastenal in the 4th quarter worth about $13,204,000. Assenagon Asset Management S.A. boosted its stake in Fastenal by 178.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company's stock worth $5,054,000 after purchasing an additional 49,972 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Fastenal in the 3rd quarter worth about $1,293,000. Finally, National Bank of Canada FI boosted its stake in Fastenal by 26.8% in the 3rd quarter. National Bank of Canada FI now owns 262,544 shares of the company's stock worth $14,401,000 after purchasing an additional 55,491 shares during the period. Institutional investors own 81.38% of the company's stock.

Insider Activity at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the business's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now directly owns 5,997 shares of the company's stock, valued at $414,392.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the business's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now directly owns 5,997 shares of the company's stock, valued at $414,392.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $387,333.24. The disclosure for this sale can be found here. Insiders have sold 105,682 shares of company stock worth $7,375,853 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Fastenal Trading Down 0.5 %

Shares of FAST stock traded down $0.31 during trading hours on Wednesday, reaching $68.48. The company's stock had a trading volume of 4,217,193 shares, compared to its average volume of 4,074,912. The stock has a market capitalization of $39.19 billion, a P/E ratio of 33.90, a P/E/G ratio of 3.62 and a beta of 1.05. Fastenal has a one year low of $52.28 and a one year high of $79.04. The firm's fifty day simple moving average is $73.70 and its 200 day simple moving average is $66.20. 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 - Get Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. 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 prior year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.28%. Fastenal's dividend payout ratio is presently 77.23%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of research analyst reports. HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a research report on Monday. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a "hold" rating for the company in a research report on Monday. Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Finally, Robert W. Baird dropped their price target on Fastenal from $77.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.