Global X Japan Co. Ltd. Increases Holdings in Fastenal Company $FAST

Global X Japan Co. Ltd. increased its position in Fastenal Company (NASDAQ:FAST) by 141.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,350 shares of the company’s stock after buying an additional 27,138 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Fastenal were worth $1,860,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Fastenal during the 2nd quarter valued at $27,000. SOA Wealth Advisors LLC. boosted its position in Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the period. REAP Financial Group LLC bought a new position in shares of Fastenal during the third quarter valued at about $30,000. First Horizon Corp purchased a new position in shares of Fastenal in the third quarter worth about $33,000. Finally, Financial Perspectives Inc boosted its holdings in Fastenal by 414.0% during the 3rd quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after acquiring an additional 563 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director directly owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on FAST shares. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Wolfe Research increased their price target on shares of Fastenal from $42.00 to $43.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. Finally, Morgan Stanley reissued a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Stock Performance

NASDAQ:FAST opened at $45.11 on Friday. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $45.47 and its 200 day simple moving average is $43.89. The stock has a market cap of $51.80 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. As a group, research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

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

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.