MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 26,702 Shares of Fastenal Company $FAST

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fastenal Company (NASDAQ:FAST) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,276,145 shares of the company’s stock after acquiring an additional 26,702 shares during the quarter. Fastenal comprises 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 20th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Fastenal were worth $405,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FAST. Vanguard Group Inc. raised its holdings in Fastenal by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after purchasing an additional 75,852,223 shares during the last quarter. State Street Corp boosted its stake in shares of Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fastenal by 103.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after buying an additional 23,380,022 shares during the period. Norges Bank acquired a new stake in shares of Fastenal during the second quarter worth $638,648,000. Finally, Invesco Ltd. raised its stake in Fastenal by 141.9% during the second quarter. Invesco Ltd. now owns 15,973,759 shares of the company’s stock worth $670,898,000 after buying an additional 9,370,909 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director owned 50,000 shares in the company, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were 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 $1,893,600. This trade represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Fastenal Stock Up 0.5%

Fastenal stock opened at $45.68 on Tuesday. The company has a market capitalization of $52.46 billion, a PE ratio of 41.53, a PEG ratio of 2.90 and a beta of 0.88. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The firm’s fifty day moving average is $45.00 and its 200 day moving average is $44.07. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were paid a $0.24 dividend. The ex-dividend date was Thursday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is 87.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Raymond James Financial set a $48.00 price objective on Fastenal in a research report on Thursday, March 5th. Wolfe Research boosted their price objective on Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Finally, UBS Group reaffirmed a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.83.

Fastenal Company 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.