Korea Investment CORP trimmed its stake in Fastenal (NASDAQ:FAST) by 69.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,921 shares of the company’s stock after selling 55,700 shares during the period. Korea Investment CORP’s holdings in Fastenal were worth $1,199,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FAST. CIBC World Markets Inc. boosted its holdings in Fastenal by 5.6% in the second quarter. CIBC World Markets Inc. now owns 17,952 shares of the company’s stock valued at $864,000 after acquiring an additional 960 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Fastenal by 2.3% in the second quarter. Raymond James Trust N.A. now owns 42,630 shares of the company’s stock valued at $2,052,000 after buying an additional 968 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in Fastenal by 1.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 51,169 shares of the company’s stock valued at $2,463,000 after buying an additional 975 shares during the period. Boston Research & Management Inc. lifted its stake in Fastenal by 1.4% in the second quarter. Boston Research & Management Inc. now owns 75,678 shares of the company’s stock valued at $3,642,000 after buying an additional 1,010 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Fastenal by 2.4% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,640 shares of the company’s stock valued at $2,100,000 after buying an additional 1,036 shares during the period. Hedge funds and other institutional investors own 85.84% of the company’s stock.

FAST stock opened at $57.76 on Monday. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.64 and a beta of 0.97. Fastenal has a twelve month low of $42.51 and a twelve month high of $61.14.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, July 11th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. Fastenal had a return on equity of 30.82% and a net margin of 14.57%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. research analysts predict that Fastenal will post 2.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 22nd. Shareholders of record on Wednesday, July 25th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. This is an increase from Fastenal’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, July 24th. Fastenal’s dividend payout ratio (DPR) is currently 82.90%.

Several equities analysts have weighed in on FAST shares. BidaskClub lowered Fastenal from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Wolfe Research initiated coverage on Fastenal in a research note on Wednesday, June 27th. They issued an “underperform” rating on the stock. Wells Fargo & Co raised their price target on Fastenal from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, July 12th. BMO Capital Markets dropped their price target on Fastenal from $57.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, July 6th. Finally, Northcoast Research reaffirmed a “buy” rating and set a $62.00 price target on shares of Fastenal in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.55.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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