Mirae Asset Global Investments Co. Ltd. Has $42.34 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 579,925 shares of the company's stock after purchasing an additional 89,110 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Fastenal worth $42,338,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC acquired a new stake in Fastenal during the 3rd quarter valued at approximately $310,000. Comgest Global Investors S.A.S. increased its holdings in Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company's stock valued at $6,219,000 after buying an additional 36,742 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Fastenal by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company's stock worth $26,373,000 after acquiring an additional 6,488 shares in the last quarter. Matrix Trust Co bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $1,756,000. Finally, Franklin Resources Inc. lifted its stake in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after purchasing an additional 165,423 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on FAST shares. Stifel Nicolaus lowered their target price on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Morgan Stanley increased their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. UBS Group assumed coverage on Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $76.91.

Insider Transactions at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company's stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,772 shares of company stock valued at $5,365,455 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

Fastenal Price Performance

Fastenal stock traded down $0.81 during midday trading on Friday, hitting $73.84. The company's stock had a trading volume of 2,971,859 shares, compared to its average volume of 3,333,444. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $42.30 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. The stock's 50-day moving average price is $75.44 and its 200-day moving average price is $73.90.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. Analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. Fastenal's dividend payout ratio is currently 85.57%.

Fastenal 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.