Sumitomo Mitsui Trust Holdings Inc. Sells 26,305 Shares of Fastenal (FAST)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Fastenal (NASDAQ:FAST) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,123,227 shares of the company’s stock after selling 26,305 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Fastenal were worth $72,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp acquired a new stake in shares of Fastenal during the 1st quarter valued at $26,000. Berman Capital Advisors LLC acquired a new position in Fastenal during the 4th quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after buying an additional 180 shares during the period. Avestar Capital LLC lifted its holdings in Fastenal by 3,163.2% during the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after buying an additional 601 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in Fastenal during the 1st quarter worth about $43,000. 84.94% of the stock is currently owned by institutional investors.

In other news, Director Willard D. Oberton sold 25,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $70.85, for a total value of $1,771,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $71.38, for a total value of $713,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,300 shares in the company, valued at $735,214. The disclosure for this sale can be found here. Insiders sold a total of 185,970 shares of company stock worth $12,905,432 over the last three months. 0.56% of the stock is owned by company insiders.

Several brokerages have commented on FAST. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. They noted that the move was a valuation call. William Blair downgraded Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Finally, Buckingham Research set a $32.50 target price on Fastenal and gave the stock a “hold” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Fastenal presently has an average rating of “Hold” and a consensus target price of $30.85.

Shares of NASDAQ:FAST traded down $0.52 during midday trading on Friday, reaching $30.82. The company’s stock had a trading volume of 87,043 shares, compared to its average volume of 4,762,166. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. Fastenal has a fifty-two week low of $23.68 and a fifty-two week high of $35.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period in the previous year, the business earned $0.31 EPS. Analysts anticipate that Fastenal will post 2.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Tuesday, April 23rd. Fastenal’s dividend payout ratio is 65.40%.

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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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