M&T Bank Corp Has $7.73 Million Holdings in Fastenal (NASDAQ:FAST)

M&T Bank Corp trimmed its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,232 shares of the company's stock after selling 12,774 shares during the period. M&T Bank Corp's holdings in Fastenal were worth $7,730,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FAST. King Luther Capital Management Corp lifted its position in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company's stock worth $619,000 after buying an additional 136 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company's stock worth $545,000 after acquiring an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Fastenal by 5.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company's stock valued at $186,000 after purchasing an additional 143 shares during the last quarter. Compass Ion Advisors LLC increased its position in Fastenal by 1.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company's stock worth $709,000 after purchasing an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company's stock worth $240,000 after purchasing an additional 146 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,289 shares of company stock valued at $12,639,438. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus downgraded Fastenal from a "buy" rating to a "hold" rating and set a $86.00 price objective on the stock. in a report on Wednesday. Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Stephens lifted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Finally, Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.40.

Fastenal Stock Performance

Fastenal stock traded down $0.22 on Thursday, hitting $79.04. The company's stock had a trading volume of 2,023,664 shares, compared to its average volume of 3,242,533. The company has a fifty day moving average price of $79.14 and a 200-day moving average price of $71.14. The firm has a market cap of $45.28 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 4.79 and a beta of 1.00. Fastenal has a one year low of $61.33 and a one year high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, equities analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, October 25th. Fastenal's dividend payout ratio is 77.61%.

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.