Mitsubishi UFJ Trust & Banking Corp Has $70.84 Million Stock Holdings in Fastenal Company $FAST

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 13.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,444,485 shares of the company’s stock after selling 215,189 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fastenal were worth $70,838,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its position in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares during the period. Sowell Financial Services LLC raised its position in shares of Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after buying an additional 238 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its holdings in Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock valued at $721,000 after acquiring an additional 250 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. Finally, Harfst & Associates Inc. grew its holdings in shares of Fastenal by 0.4% during the 3rd quarter. Harfst & Associates Inc. now owns 63,720 shares of the company’s stock worth $3,125,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $198,000. The trade was a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Fastenal Stock Down 2.0%

Shares of NASDAQ:FAST opened at $43.89 on Friday. The company’s fifty day moving average is $41.47 and its 200-day moving average is $44.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.85. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a market capitalization of $50.39 billion, a PE ratio of 39.90, a P/E/G ratio of 2.81 and a beta of 0.90.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. Equities research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FAST shares. Robert W. Baird reduced their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. UBS Group reissued a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.00.

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.