Bank of Hawaii boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,434 shares of the company’s stock after purchasing an additional 1,689 shares during the quarter. Bank of Hawaii owned about 8,502.04% of Fastenal worth $1,114,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Bank of Australia raised its stake in Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after purchasing an additional 753 shares in the last quarter. Cable Hill Partners LLC purchased a new stake in Fastenal during the third quarter valued at $126,000. Parkside Financial Bank & Trust raised its stake in Fastenal by 3.0% during the second quarter. Parkside Financial Bank & Trust now owns 3,025 shares of the company’s stock valued at $132,000 after purchasing an additional 88 shares in the last quarter. Krilogy Financial LLC raised its stake in Fastenal by 2.0% during the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after purchasing an additional 70 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in Fastenal by 13.4% during the second quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock valued at $159,000 after purchasing an additional 433 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

In other Fastenal news, Director Michael John Dolan sold 8,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $43.01, for a total transaction of $344,080.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen L. Eastman bought 800 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average price of $40.58 per share, for a total transaction of $32,464.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock worth $1,782,880. 0.55% of the stock is owned by company insiders.

A number of research firms recently issued reports on FAST. BMO Capital Markets reaffirmed a “market perform” rating and set a $51.00 price target (up previously from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Stephens set a $54.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research report on Thursday, October 12th. Finally, Northcoast Research reiterated a “buy” rating on shares of Fastenal in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $50.80.

Fastenal Company (FAST) traded up $0.34 during midday trading on Wednesday, hitting $48.38. 658,810 shares of the stock were exchanged, compared to its average volume of 2,899,000. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $13,811.98, a PE ratio of 25.56, a PEG ratio of 1.78 and a beta of 1.06. Fastenal Company has a 12-month low of $39.78 and a 12-month high of $52.74.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. research analysts forecast that Fastenal Company will post 1.93 earnings per share for the current year.

Fastenal declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 11th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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