Nissay Asset Management Corp Japan grew its position in Fastenal Company (NASDAQ:FAST – Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 903,647 shares of the company’s stock after acquiring an additional 57,030 shares during the period. Nissay Asset Management Corp Japan owned about 0.08% of Fastenal worth $43,402,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in FAST. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Fastenal in the 2nd quarter valued at approximately $26,000. Evergreen Advisors LLC acquired a new position in Fastenal during the 1st quarter worth approximately $26,000. Palladiem LLC purchased a new position in shares of Fastenal during the 4th quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at approximately $25,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Fastenal in the 4th quarter valued at approximately $29,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director owned 58,690 shares in the company, valued at approximately $2,875,810. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rita J. Heise sold 34,964 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. The trade was a 63.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Research Report on Fastenal
Fastenal Stock Performance
Shares of FAST opened at $49.78 on Friday. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $52.92. The stock has a market cap of $57.12 billion, a P/E ratio of 42.19, a PEG ratio of 3.19 and a beta of 0.72. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $48.45 and a two-hundred day moving average of $46.50.
Fastenal (NASDAQ:FAST – Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts predict that Fastenal Company will post 1.26 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio is currently 88.14%.
Fastenal 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.
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