Fastenal (NASDAQ:FAST) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its stake in Fastenal (NASDAQ:FAST) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,928 shares of the company’s stock after buying an additional 1,195 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Fastenal were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FAST. Aaron Wealth Advisors LLC bought a new stake in shares of Fastenal during the third quarter valued at approximately $310,000. Cetera Investment Advisers raised its holdings in shares of Fastenal by 499.7% during the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock valued at $10,186,000 after buying an additional 110,027 shares during the last quarter. M&G Plc bought a new stake in shares of Fastenal during the first quarter valued at approximately $11,212,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Fastenal by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock valued at $13,259,000 after buying an additional 11,436 shares during the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in shares of Fastenal during the second quarter valued at approximately $2,643,000. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,033 shares of company stock valued at $19,240,434 in the last quarter. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FAST. Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. UBS Group began coverage on Fastenal in a report on Wednesday. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.80.

Fastenal Trading Down 0.4 %

Fastenal stock opened at $81.85 on Friday. The company’s fifty day simple moving average is $74.64 and its 200-day simple moving average is $69.13. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88. The stock has a market cap of $46.89 billion, a P/E ratio of 40.72, a P/E/G ratio of 4.90 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Fastenal’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is 77.61%.

Fastenal 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.