Meiji Yasuda Asset Management Co Ltd. Has $1.31 Million Stake in Fastenal (NASDAQ:FAST)

Meiji Yasuda Asset Management Co Ltd. raised its position in Fastenal (NASDAQ:FAST) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,916 shares of the company’s stock after buying an additional 2,872 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fastenal were worth $1,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FAST. Central Valley Advisors LLC bought a new position in Fastenal in the second quarter valued at approximately $28,000. MCF Advisors LLC increased its stake in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Fastenal during the 2nd quarter worth $32,000. Crewe Advisors LLC lifted its position in shares of Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after buying an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Fastenal in the second quarter valued at about $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Fastenal Trading Up 1.3 %

FAST opened at $71.38 on Friday. The company’s 50 day moving average price is $67.94 and its two-hundred day moving average price is $68.52. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 3.78 and a beta of 1.01. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.19%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Stephens reiterated an “equal weight” rating and set a $56.00 price objective on shares of Fastenal in a research report on Monday, July 15th. Morgan Stanley started coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.43.

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.