M&T Bank Corp lowered its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,232 shares of the company's stock after selling 12,774 shares during the period. M&T Bank Corp's holdings in Fastenal were worth $7,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the third quarter worth $25,000. Knuff & Co LLC purchased a new position in shares of Fastenal during the 3rd quarter worth $27,000. Moisand Fitzgerald Tamayo LLC increased its position in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services purchased a new stake in Fastenal in the 3rd quarter valued at about $36,000. Finally, Crewe Advisors LLC lifted its position in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock valued at $32,000 after buying an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.
FAST has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Stifel Nicolaus cut Fastenal from a "buy" rating to a "hold" rating and set a $86.00 price target on the stock. in a research note on Wednesday, December 11th. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Finally, Stephens increased their target price on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $77.40.
Read Our Latest Analysis on FAST
FAST stock opened at $74.82 on Monday. The company's 50 day moving average price is $79.90 and its 200 day moving average price is $71.71. The firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 4.69 and a beta of 1.00. Fastenal has a fifty-two week low of $61.33 and a fifty-two week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.
Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.09%. Fastenal's dividend payout ratio is currently 77.61%.
In related news, VP Charles S. Miller sold 23,480 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,289 shares of company stock worth $12,639,438. 0.41% of the stock is currently owned by insiders.
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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