Mitsubishi UFJ Securities Holdings Co. Ltd. Has $107,000 Position in Fastenal (NASDAQ:FAST)
Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Fastenal (NASDAQ:FAST) by 654.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,660 shares of the company’s stock after purchasing an additional 1,440 shares during the quarter. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Fastenal were worth $107,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Fastenal by 31.1% in the first quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock valued at $365,000 after buying an additional 1,345 shares in the last quarter. Meristem Family Wealth LLC acquired a new position in shares of Fastenal during the first quarter worth approximately $220,000. Trust Co. of Virginia VA lifted its position in shares of Fastenal by 4.8% during the fourth quarter. Trust Co. of Virginia VA now owns 106,810 shares of the company’s stock worth $5,585,000 after purchasing an additional 4,884 shares in the last quarter. Green Square Capital LLC lifted its position in shares of Fastenal by 9.1% during the fourth quarter. Green Square Capital LLC now owns 131,767 shares of the company’s stock worth $6,890,000 after purchasing an additional 10,940 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fastenal by 7.9% during the fourth quarter. Northern Trust Corp now owns 3,660,888 shares of the company’s stock worth $191,427,000 after purchasing an additional 267,997 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.
In other Fastenal news, CEO Daniel L. Florness sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $70.75, for a total value of $1,415,000.00. Following the completion of the sale, the chief executive officer now owns 109,845 shares of the company’s stock, valued at $7,771,533.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $71.38, for a total transaction of $713,800.00. Following the completion of the sale, the chief accounting officer now directly owns 10,300 shares of the company’s stock, valued at approximately $735,214. The disclosure for this sale can be found here. Insiders sold 163,470 shares of company stock worth $11,485,007 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business posted $0.31 earnings per share. Sell-side analysts expect that Fastenal will post 1.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th were issued a $0.43 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $1.72 annualized dividend and a yield of 5.35%. Fastenal’s dividend payout ratio is currently 65.15%.
A number of equities analysts have recently issued reports on FAST shares. BidaskClub lowered shares of Fastenal from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. Raymond James set a $39.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Friday, April 12th. Morgan Stanley upped their target price on shares of Fastenal from $27.50 to $31.50 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Buckingham Research set a $32.50 target price on shares of Fastenal and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.85.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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