Fastenal Company $FAST Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its stake in shares of Fastenal Company (NASDAQ:FAST) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 488,187 shares of the company’s stock after selling 25,333 shares during the period. Daiwa Securities Group Inc.’s holdings in Fastenal were worth $19,591,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FAST. Norges Bank acquired a new stake in shares of Fastenal in the fourth quarter valued at about $646,046,000. Bank of America Corp DE raised its position in shares of Fastenal by 106.1% in the second quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock valued at $648,118,000 after buying an additional 7,943,217 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Fastenal by 1.6% in the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after buying an additional 2,346,045 shares during the last quarter. Invesco Ltd. raised its position in shares of Fastenal by 14.0% in the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after buying an additional 2,242,116 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Fastenal by 1,039.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,337,722 shares of the company’s stock valued at $94,253,000 after buying an additional 2,132,593 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Fastenal stock opened at $46.79 on Friday. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The stock has a market cap of $53.72 billion, a P/E ratio of 41.04, a PEG ratio of 3.00 and a beta of 0.73. The company has a 50-day moving average price of $45.08 and a 200 day moving average price of $44.00. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $0.52 earnings per share. Fastenal’s revenue was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Wolfe Research reduced their target price on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Robert W. Baird reduced their target price on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $49.85.

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.