Nomura Asset Management Co. Ltd. Raises Stock Holdings in Fastenal (NASDAQ:FAST)

Nomura Asset Management Co. Ltd. grew its stake in Fastenal (NASDAQ:FAST - Free Report) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 802,404 shares of the company's stock after acquiring an additional 56,235 shares during the period. Nomura Asset Management Co. Ltd. owned 0.14% of Fastenal worth $57,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FAST. MML Investors Services LLC increased its position in Fastenal by 7.9% during the 3rd quarter. MML Investors Services LLC now owns 28,421 shares of the company's stock valued at $2,030,000 after purchasing an additional 2,089 shares during the period. Bontempo Ohly Capital Mgmt LLC boosted its stake in shares of Fastenal by 0.5% during the third quarter. Bontempo Ohly Capital Mgmt LLC now owns 66,698 shares of the company's stock valued at $4,764,000 after purchasing an additional 349 shares in the last quarter. National Bank of Canada FI increased its holdings in Fastenal by 64.6% during the third quarter. National Bank of Canada FI now owns 401,312 shares of the company's stock valued at $28,662,000 after buying an additional 157,520 shares during the period. EP Wealth Advisors LLC raised its stake in Fastenal by 39.9% in the third quarter. EP Wealth Advisors LLC now owns 10,709 shares of the company's stock worth $765,000 after buying an additional 3,052 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in Fastenal in the third quarter worth approximately $208,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $19,929,734.24. This trade represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares of the company's stock, valued at $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,289 shares of company stock worth $16,123,438. 0.41% of the stock is owned by company insiders.

Fastenal Stock Performance

Fastenal stock traded down $0.55 during mid-day trading on Tuesday, reaching $79.77. 2,895,728 shares of the company traded hands, compared to its average volume of 3,250,678. Fastenal has a fifty-two week low of $61.33 and a fifty-two week high of $84.88. The firm's fifty day moving average is $78.81 and its two-hundred day moving average is $70.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 4.79 and a beta of 1.00.

Fastenal (NASDAQ:FAST - Get Free Report) last issued 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 company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities research analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a $0.39 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.96%. Fastenal's dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FAST. Stifel Nicolaus reiterated a "buy" rating and issued a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday. UBS Group started coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price target for the company. Robert W. Baird raised their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Stephens boosted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $76.80.

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.