M&T Bank Corp Has $22.33 Million Holdings in Fastenal (NASDAQ:FAST)

M&T Bank Corp trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,686 shares of the company’s stock after selling 21,392 shares during the period. M&T Bank Corp’s holdings in Fastenal were worth $22,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its position in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Fastenal in the fourth quarter valued at $35,000. Criterion Capital Advisors LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $43,000. First Horizon Advisors Inc. increased its stake in shares of Fastenal by 283.2% during the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $49,000 after purchasing an additional 558 shares during the last quarter. Finally, Pacific Center for Financial Services acquired a new stake in Fastenal in the 3rd quarter valued at about $66,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the sale, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Shares of FAST traded up $0.34 during mid-day trading on Friday, hitting $68.43. 2,592,954 shares of the company’s stock were exchanged, compared to its average volume of 4,096,502. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52 week low of $52.85 and a 52 week high of $79.04. The stock’s 50-day simple moving average is $73.21 and its 200-day simple moving average is $67.01. The firm has a market cap of $39.18 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities research analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s payout ratio is presently 77.23%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FAST. Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Robert W. Baird cut their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $67.67.

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