Fastenal (NASDAQ:FAST) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Fastenal (NASDAQ:FAST) by 14.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 490,815 shares of the company’s stock after purchasing an additional 63,152 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Fastenal worth $35,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the second quarter valued at $28,000. MCF Advisors LLC increased its stake in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC purchased a new stake in Fastenal during the second quarter worth about $32,000. Crewe Advisors LLC boosted its stake in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FAST shares. Robert W. Baird increased their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stephens upped their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Bank of America assumed coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus price target of $73.33.

Insider Buying and Selling at Fastenal

In other news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,373 shares of company stock worth $13,029,308 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Fastenal Trading Up 0.8 %

FAST opened at $75.85 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a one year low of $57.01 and a one year high of $79.04. The company has a market cap of $43.43 billion, a P/E ratio of 37.74, a PEG ratio of 4.13 and a beta of 1.01. The business’s 50-day simple moving average is $70.74 and its 200-day simple moving average is $68.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.06%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

About Fastenal

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.