Daiwa Securities Group Inc. Purchases 17,987 Shares of Fastenal (NASDAQ:FAST)

Daiwa Securities Group Inc. raised its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,457 shares of the company's stock after purchasing an additional 17,987 shares during the period. Daiwa Securities Group Inc.'s holdings in Fastenal were worth $8,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. lifted its stake in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company's stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in Fastenal during the 4th quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastenal during the 4th quarter valued at about $35,000. Sunbelt Securities Inc. grew its position in Fastenal by 131.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company's stock worth $35,000 after acquiring an additional 341 shares during the last quarter. Finally, Quarry LP increased its stake in Fastenal by 184.9% in the 1st quarter. Quarry LP now owns 678 shares of the company's stock worth $37,000 after purchasing an additional 440 shares during the period. Institutional investors own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Loop Capital cut their target price on shares of Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a report on Monday. Robert W. Baird cut their target price on shares of Fastenal from $77.00 to $71.00 and set a "neutral" rating on the stock in a research note on Friday, April 12th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday. Finally, Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $67.67.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company's stock, valued at approximately $414,392.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,640 shares of company stock valued at $5,044,657. 0.41% of the stock is owned by corporate insiders.

Fastenal Stock Up 0.1 %

Fastenal stock traded up $0.07 during mid-day trading on Friday, hitting $67.57. The company had a trading volume of 3,785,030 shares, compared to its average volume of 4,064,631. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The company has a market capitalization of $38.69 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The stock's 50 day moving average price is $73.67 and its two-hundred day moving average price is $66.21. 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 announced its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.31%. Fastenal's payout ratio is currently 77.23%.

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.