TD Asset Management Inc. increased its holdings in shares of Fastenal (NASDAQ:FAST) by 77.5% in the third quarter, Holdings Channel reports. The firm owned 1,204,997 shares of the company’s stock after acquiring an additional 526,208 shares during the period. TD Asset Management Inc.’s holdings in Fastenal were worth $54,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Morgan Stanley increased its position in Fastenal by 18.8% during the 1st quarter. Morgan Stanley now owns 2,732,144 shares of the company’s stock worth $85,380,000 after purchasing an additional 432,559 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $605,000. Valeo Financial Advisors LLC increased its position in Fastenal by 40.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,223 shares of the company’s stock worth $95,000 after purchasing an additional 645 shares in the last quarter. M&G Investment Management Ltd. acquired a new stake in Fastenal during the 2nd quarter worth approximately $767,000. Finally, Banque Cantonale Vaudoise increased its position in Fastenal by 394.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 25,692 shares of the company’s stock worth $1,100,000 after purchasing an additional 20,500 shares in the last quarter. 77.18% of the stock is owned by hedge funds and other institutional investors.

Fastenal stock opened at $47.30 on Friday. The stock has a market cap of $27.15 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company has a current ratio of 4.39, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $45.63 and a 200-day moving average of $44.24. Fastenal has a 52 week low of $26.72 and a 52 week high of $49.86.

Fastenal (NASDAQ:FAST) last released its earnings results on Sunday, October 18th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. As a group, equities analysts predict that Fastenal will post 1.47 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Tuesday, December 22nd. Investors of record on Wednesday, December 2nd will be given a dividend of $0.40 per share. Fastenal’s dividend payout ratio is currently 72.46%.

A number of research firms recently issued reports on FAST. Raymond James downgraded shares of Fastenal from a “market perform” rating to an “underperform” rating in a research report on Friday, September 4th. Argus upped their price target on Fastenal from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Wells Fargo & Company cut Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Thursday, September 3rd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft decreased their price target on Fastenal from $54.00 to $52.00 in a report on Wednesday, October 14th. Finally, Stephens started coverage on Fastenal in a report on Thursday, October 15th. They issued an “overweight” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Fastenal presently has an average rating of “Hold” and a consensus target price of $44.36.

In related news, VP Terry Modock Owen sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $49.53, for a total transaction of $61,912.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were purchased at an average cost of $45.00 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $45,000. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,100 shares of company stock worth $183,522. Corporate insiders own 0.57% of the company’s stock.

Fastenal Company Profile

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Further Reading: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.