Fastenal Company $FAST Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 103.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 194,197 shares of the company's stock after purchasing an additional 98,695 shares during the quarter. M&T Bank Corp's holdings in Fastenal were worth $8,156,000 at the end of the most recent reporting period.

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A number of other hedge funds have also made changes to their positions in FAST. Boston Family Office LLC boosted its position in shares of Fastenal by 98.5% in the 2nd quarter. Boston Family Office LLC now owns 13,600 shares of the company's stock worth $571,000 after buying an additional 6,750 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in Fastenal by 98.7% during the second quarter. OMERS ADMINISTRATION Corp now owns 90,922 shares of the company's stock worth $3,819,000 after acquiring an additional 45,161 shares during the last quarter. Shelton Capital Management raised its position in Fastenal by 99.8% during the second quarter. Shelton Capital Management now owns 137,061 shares of the company's stock worth $5,757,000 after acquiring an additional 68,464 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Fastenal by 366.8% in the second quarter. Panagora Asset Management Inc. now owns 15,642 shares of the company's stock valued at $657,000 after purchasing an additional 12,291 shares in the last quarter. Finally, Okabena Investment Services Inc. grew its position in shares of Fastenal by 140.5% in the second quarter. Okabena Investment Services Inc. now owns 25,912 shares of the company's stock valued at $1,088,000 after purchasing an additional 15,140 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Activity at Fastenal

In related news, Director Sarah N. Nielsen purchased 1,000 shares of the business's stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm's stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 3,000 shares of company stock valued at $131,630 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Fastenal Price Performance

• Fastenal Stock Pulls Back in October—Is It Time to Buy FAST?

Shares of NASDAQ:FAST opened at $41.22 on Thursday. The company has a market cap of $47.32 billion, a P/E ratio of 38.52, a P/E/G ratio of 3.36 and a beta of 0.89. The business has a fifty day simple moving average of $42.78 and a 200-day simple moving average of $44.39. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.26 earnings per share. The firm's quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

• Fastenal Surges After Earnings Beat, Tariff Risks Loom

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal's payout ratio is presently 82.24%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent research reports. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Wolfe Research raised Fastenal from an "underperform" rating to a "peer perform" rating and set a $43.00 price target for the company in a report on Thursday, November 13th. Weiss Ratings restated a "buy (b)" rating on shares of Fastenal in a research report on Wednesday, October 8th. Robert W. Baird dropped their price objective on Fastenal from $53.00 to $49.00 and set an "outperform" rating for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fastenal has a consensus rating of "Hold" and a consensus price target of $46.32.

View Our Latest Research Report on FAST

Fastenal Company 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.

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