Fastenal (NASDAQ:FAST) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in shares of Fastenal (NASDAQ:FAST) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,820 shares of the company’s stock after purchasing an additional 4,553 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fastenal were worth $14,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAST. Van ECK Associates Corp boosted its position in shares of Fastenal by 5.7% during the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after acquiring an additional 5,509 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Fastenal by 3.7% in the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after purchasing an additional 31,814 shares during the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after purchasing an additional 694 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Fastenal in the 4th quarter valued at about $13,204,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Fastenal by 178.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock valued at $5,054,000 after purchasing an additional 49,972 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Loop Capital lowered their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, Robert W. Baird lowered their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.33.

Insider Buying and Selling

In other news, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $66.02 on Monday. The business’s fifty day moving average price is $70.86 and its two-hundred day moving average price is $68.07. The stock has a market cap of $37.80 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a one year low of $52.86 and a one year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $0.52 EPS. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Fastenal will post 2.11 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

About Fastenal

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.