Fastenal (NASDAQ:FAST) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its holdings in shares of Fastenal (NASDAQ:FAST) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 775,692 shares of the company’s stock after selling 26,712 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fastenal were worth $55,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Financial Strategies Group LLC acquired a new stake in shares of Fastenal during the 4th quarter worth $873,000. Matrix Trust Co purchased a new stake in Fastenal during the fourth quarter valued at about $1,756,000. Franklin Resources Inc. increased its stake in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after acquiring an additional 165,423 shares during the last quarter. Czech National Bank raised its holdings in shares of Fastenal by 6.5% in the 4th quarter. Czech National Bank now owns 124,213 shares of the company’s stock worth $8,932,000 after purchasing an additional 7,559 shares during the period. Finally, Armstrong Henry H Associates Inc. lifted its stake in shares of Fastenal by 29.9% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock valued at $2,615,000 after purchasing an additional 8,380 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FAST shares. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Wolfe Research increased their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. William Blair upgraded shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.91.

Fastenal Stock Down 2.0 %

Shares of Fastenal stock opened at $76.17 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The business has a 50-day moving average of $75.35 and a 200-day moving average of $75.89. The company has a market capitalization of $43.68 billion, a PE ratio of 37.90, a P/E/G ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $0.46 EPS. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were issued a $0.43 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.26%. Fastenal’s dividend payout ratio is currently 85.57%.

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.