Massmutual Trust Co. FSB ADV Purchases 308 Shares of Fastenal (NASDAQ:FAST)

Massmutual Trust Co. FSB ADV boosted its holdings in Fastenal (NASDAQ:FASTFree Report) by 15.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,276 shares of the company’s stock after purchasing an additional 308 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Fastenal were worth $163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FAST. Baird Financial Group Inc. lifted its stake in Fastenal by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after acquiring an additional 1,043,529 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Fastenal by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock worth $371,334,000 after acquiring an additional 193,734 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fastenal by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company’s stock valued at $293,179,000 after purchasing an additional 66,130 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Fastenal by 13.2% during the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock valued at $277,794,000 after purchasing an additional 517,172 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $70.18 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $68.57 and a two-hundred day simple moving average of $68.17. Fastenal has a 1-year low of $54.69 and a 1-year high of $79.04. The firm has a market cap of $40.18 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01.

Fastenal (NASDAQ:FASTGet Free Report) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were given a $0.39 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.22%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Fastenal

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, 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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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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