Fastenal (NASDAQ:FAST) Shares Sold by Asset Management One Co. Ltd.

Posted by on Jul 12th, 2023

Asset Management One Co. Ltd. lessened its holdings in Fastenal (NASDAQ:FAST – Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,642 shares of the company’s stock after selling 8,505 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Fastenal were worth $13,412,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fastenal in the fourth quarter worth $268,570,000. Morgan Stanley raised its stake in shares of Fastenal by 37.8% during the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock valued at $430,243,000 after buying an additional 2,492,722 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Fastenal by 816.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,983,091 shares of the company’s stock valued at $93,841,000 after buying an additional 1,766,818 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Fastenal by 22.9% in the fourth quarter. Baird Financial Group Inc. now owns 8,249,677 shares of the company’s stock worth $390,374,000 after buying an additional 1,537,417 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 10.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,989,837 shares of the company’s stock worth $567,359,000 after acquiring an additional 1,179,460 shares during the period. 77.24% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.2 %

FAST stock opened at $58.96 on Wednesday. The business’s 50-day moving average is $55.83 and its 200 day moving average is $53.02. Fastenal has a 12-month low of $43.73 and a 12-month high of $59.33. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 3.24 and a beta of 1.19. The company has a current ratio of 3.66, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST – Get Free Report) last issued its quarterly earnings results on Thursday, April 13th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Fastenal had a return on equity of 34.83% and a net margin of 15.59%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. On average, sell-side analysts anticipate that Fastenal will post 1.98 EPS for the current fiscal year.

Insider Buying and Selling at Fastenal

In other news, COO Terry Modock Owen sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $56.15, for a total transaction of $1,123,000.00. Following the transaction, the chief operating officer now directly owns 7,000 shares in the company, valued at approximately $393,050. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FAST shares. StockNews.com downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird raised their price target on shares of Fastenal from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, April 14th. Stifel Nicolaus assumed coverage on shares of Fastenal in a research report on Monday, April 3rd. They issued a “buy” rating and a $61.00 price objective for the company. Morgan Stanley raised their target price on Fastenal from $42.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, April 5th. Finally, Jefferies Financial Group upped their price target on Fastenal from $50.00 to $60.00 in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $54.57.

Fastenal Company Profile

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, 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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