Nomura Asset Management Co. Ltd. Raises Stock Holdings in Fastenal Company $FAST

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,325,411 shares of the company’s stock after purchasing an additional 53,648 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fastenal were worth $53,189,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Fastenal in the fourth quarter valued at approximately $496,000. Integrated Wealth Concepts LLC lifted its position in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Fastenal in the second quarter valued at approximately $158,000. Jump Financial LLC purchased a new position in shares of Fastenal in the second quarter valued at approximately $2,199,000. Finally, Cary Street Partners Financial LLC lifted its position in shares of Fastenal by 111.0% in the second quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock valued at $141,000 after acquiring an additional 1,771 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.28% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST opened at $44.20 on Monday. 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 has a market capitalization of $50.74 billion, a P/E ratio of 38.77, a P/E/G ratio of 2.82 and a beta of 0.73. The stock’s fifty day moving average is $44.96 and its two-hundred day moving average is $43.85.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s payout ratio is presently 84.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their target price on Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Wolfe Research dropped their target price on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Sanford C. Bernstein restated an “underperform” rating and issued a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Five 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.77.

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.