Fastenal Company $FAST Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its position in shares of Fastenal Company (NASDAQ:FAST) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,796 shares of the company’s stock after selling 15,124 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Fastenal were worth $18,615,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FAST. Brighton Jones LLC purchased a new stake in shares of Fastenal during the 4th quarter worth approximately $496,000. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $158,000. Jump Financial LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $2,199,000. Finally, Cary Street Partners Financial LLC lifted its position in shares of Fastenal by 111.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after buying an additional 1,771 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 1.0%

Shares of Fastenal stock opened at $43.57 on Wednesday. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $45.23 and its 200-day simple moving average is $43.68. The firm has a market cap of $50.02 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Bank of America boosted their price objective on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Wolfe Research reduced their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.77.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by corporate insiders.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.