Fastenal (FAST) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. lifted its stake in shares of Fastenal (NASDAQ:FAST) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,541 shares of the company’s stock after purchasing an additional 1,729 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fastenal were worth $1,939,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of FAST. Janus Henderson Group PLC lifted its position in shares of Fastenal by 357.0% during the second quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock worth $79,340,000 after purchasing an additional 1,423,856 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Fastenal during the third quarter worth about $64,702,000. Bank of New York Mellon Corp lifted its position in shares of 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 worth $739,306,000 after purchasing an additional 1,297,185 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Fastenal by 580.8% during 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 purchasing an additional 1,276,832 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Fastenal by 3.1% during the second quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock worth $1,374,380,000 after purchasing an additional 943,262 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James C. Jansen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The disclosure for this sale can be found here. Insiders sold 80,112 shares of company stock worth $3,879,832 in the last 90 days. 0.55% of the stock is owned by company insiders.
Several equities research analysts recently weighed in on the stock. KeyCorp reiterated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. BidaskClub lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reiterated a “hold” rating and set a $46.00 price objective on shares of Fastenal in a research note on Monday, August 21st. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $46.00 price objective on shares of Fastenal in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal presently has an average rating of “Buy” and a consensus target price of $51.13.
Shares of Fastenal (FAST) opened at $53.11 on Thursday. Fastenal has a 12 month low of $39.79 and a 12 month high of $55.35. The firm has a market cap of $15,467.35, a PE ratio of 28.63, a P/E/G ratio of 1.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $0.44 earnings per share. Fastenal’s revenue was up 11.8% compared to the same quarter last year. analysts expect that Fastenal will post 1.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 annualized dividend and a dividend yield of 2.41%. Fastenal’s payout ratio is currently 68.09%.
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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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