Fastenal Company $FAST Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 903,647 shares of the company’s stock after buying an additional 57,030 shares during the period. Nissay Asset Management Corp Japan’s holdings in Fastenal were worth $43,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Fastenal during the 4th quarter worth $496,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Fastenal in the second quarter valued at $158,000. Jump Financial LLC purchased a new stake in shares of Fastenal in the second quarter valued at $2,199,000. Finally, Cary Street Partners Financial LLC increased its stake in Fastenal by 111.0% in the second quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after purchasing an additional 1,771 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays reduced their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and issued a $47.00 price target on shares of Fastenal in a report on Thursday, July 9th. Morgan Stanley upped their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. DA Davidson reiterated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.17.

Insider Buying and Selling at Fastenal

In related news, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by corporate insiders.

Fastenal Stock Down 2.6%

Shares of NASDAQ:FAST opened at $49.78 on Friday. The stock has a 50-day simple moving average of $48.45 and a 200-day simple moving average of $46.50. The stock has a market capitalization of $57.12 billion, a P/E ratio of 42.19, a PEG ratio of 3.19 and a beta of 0.72. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Equities analysts forecast that Fastenal Company will post 1.26 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 88.14%.

Fastenal Company Profile

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.