Sumitomo Mitsui Trust Holdings Inc. Trims Position in Fastenal Company (FAST)
Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Fastenal Company (NASDAQ:FAST) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 794,464 shares of the company’s stock after selling 16,390 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Fastenal worth $36,212,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Fastenal by 3.1% during the second quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after acquiring an additional 943,262 shares during the last quarter. BlackRock Inc. increased its position in Fastenal by 1.9% during the second quarter. BlackRock Inc. now owns 17,796,450 shares of the company’s stock valued at $774,680,000 after acquiring an additional 336,893 shares during the last quarter. Bank of New York Mellon Corp increased its position in Fastenal by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after acquiring an additional 1,297,185 shares during the last quarter. Principal Financial Group Inc. increased its position in Fastenal by 5.1% during the second quarter. Principal Financial Group Inc. now owns 2,494,090 shares of the company’s stock valued at $108,567,000 after acquiring an additional 121,909 shares during the last quarter. Finally, Mcdonald Capital Investors Inc. CA grew its holdings in Fastenal by 4.7% during the third quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock valued at $104,168,000 after purchasing an additional 103,147 shares during the period. Institutional investors own 83.63% of the company’s stock.
Fastenal Company (NASDAQ FAST) opened at $48.45 on Wednesday. The firm has a market capitalization of $13,826.35, a PE ratio of 25.59, a PEG ratio of 1.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. Fastenal Company has a one year low of $39.79 and a one year high of $52.74.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. research analysts forecast that Fastenal Company will post 1.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is 68.09%.
FAST has been the subject of several recent research reports. KeyCorp reissued a “buy” rating and set a $52.00 price target on shares of Fastenal in a report on Thursday, October 12th. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Northcoast Research reissued a “buy” rating on shares of Fastenal in a report on Friday, August 4th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Thursday, August 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $50.80.
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In other news, VP Leland J. Hein sold 10,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the transaction, the vice president now owns 20,258 shares of the company’s stock, valued at $972,384. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,112 shares of company stock valued at $2,884,832. Corporate insiders own 0.55% of the company’s stock.
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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