Mitsubishi UFJ Asset Management Co. Ltd. Acquires 39,944 Shares of Fastenal (NASDAQ:FAST)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 613,907 shares of the company's stock after acquiring an additional 39,944 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.11% of Fastenal worth $38,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Hartford Financial Management Inc. lifted its holdings in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company's stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastenal in the 4th quarter valued at about $35,000. Criterion Capital Advisors LLC acquired a new position in Fastenal during the 4th quarter worth approximately $43,000. First Horizon Advisors Inc. grew its stake in shares of Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock worth $49,000 after purchasing an additional 558 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new position in shares of Fastenal in the 3rd quarter valued at about $66,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Price Performance

Fastenal stock traded down $0.18 during trading hours on Thursday, hitting $66.80. 2,863,348 shares of the company traded hands, compared to its average volume of 3,872,144. Fastenal has a 1-year low of $52.86 and a 1-year high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The firm's 50-day simple moving average is $72.09 and its two-hundred day simple moving average is $67.64. The firm has a market cap of $38.25 billion, a P/E ratio of 33.14, a P/E/G ratio of 3.53 and a beta of 1.07.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Fastenal's revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, April 24th. Fastenal's dividend payout ratio is presently 77.23%.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of analyst reports. Robert W. Baird decreased their price target on Fastenal from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 7th. HSBC increased their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a report on Monday, April 15th. Stifel Nicolaus upped their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Finally, Loop Capital reduced their price target on shares of Fastenal from $71.00 to $66.00 and set a "hold" rating for the company in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.33.

Insider Buying and Selling

In related news, Director Daniel L. Johnson acquired 3,350 shares of the business's stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Daniel L. Johnson purchased 3,350 shares of the company's stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company's stock, valued at approximately $724,486.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 19,420 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the sale, the insider now owns 5,940 shares of the company's stock, valued at approximately $417,285. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

About Fastenal

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.