9,677 Shares in Fastenal (FAST) Purchased by IFM Investors Pty Ltd
IFM Investors Pty Ltd acquired a new position in Fastenal (NASDAQ:FAST) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,677 shares of the company’s stock, valued at approximately $441,000.
Several other institutional investors also recently bought and sold shares of FAST. Janus Henderson Group PLC lifted its stake in shares of Fastenal by 357.0% in the second quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock worth $79,340,000 after acquiring an additional 1,423,856 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Fastenal in the third quarter worth approximately $64,702,000. Bank of New York Mellon Corp lifted its stake in shares of Fastenal by 8.7% in the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock worth $739,306,000 after acquiring an additional 1,297,185 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Fastenal by 580.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock worth $68,218,000 after acquiring an additional 1,276,832 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in Fastenal in the third quarter valued at approximately $56,907,000. 84.67% of the stock is currently owned by institutional investors.
Fastenal (NASDAQ:FAST) opened at $53.28 on Friday. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. Fastenal has a 12-month low of $39.79 and a 12-month high of $55.35. The firm has a market capitalization of $15,263.30, a P/E ratio of 28.25, a PEG ratio of 1.97 and a beta of 1.08.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.
In other news, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $47.14, for a total value of $471,400.00. Following the transaction, the insider now directly owns 21,290 shares in the company, valued at $1,003,610.60. The disclosure for this sale can be found here. Insiders have sold 80,112 shares of company stock worth $3,879,832 over the last ninety days. 0.55% of the stock is owned by insiders.
Several brokerages have issued reports on FAST. Stifel Nicolaus reissued a “hold” rating and issued a $51.00 price target on shares of Fastenal in a research note on Monday, December 11th. KeyCorp reissued a “buy” rating and issued a $52.00 price target on shares of Fastenal in a research note on Thursday, October 12th. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. BMO Capital Markets reissued a “market perform” rating and issued a $51.00 price target (up from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price target (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal presently has a consensus rating of “Buy” and a consensus target price of $51.13.
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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