Fastenal (NASDAQ:FAST) Holdings Lowered by The Manufacturers Life Insurance Company (2024)

The Manufacturers Life Insurance Company lowered its position in shares of Fastenal (NASDAQ:FAST – Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 441,423 shares of the company’s stock after selling 11,810 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Fastenal worth $28,591,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FAST. Hartford Financial Management Inc. lifted its stake in Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal during the fourth quarter worth approximately $35,000. Criterion Capital Advisors LLC purchased a new position in Fastenal during the fourth quarter valued at approximately $43,000. First Horizon Advisors Inc. increased its stake in Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after buying an additional 558 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new stake in Fastenal in the 4th quarter worth approximately $52,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FAST. HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Robert W. Baird dropped their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.33.

Get Our Latest Stock Report on FAST

Fastenal Stock Down 0.2 %

Shares of FAST stock opened at $63.89 on Friday. The stock’s 50 day simple moving average is $68.38 and its 200 day simple moving average is $68.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a twelve month low of $53.65 and a twelve month high of $79.04. The company has a market capitalization of $36.58 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.43 and a beta of 1.02.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Fastenal will post 2.11 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Insider Transactions at Fastenal

In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP James C. Jansen sold 11,428 shares of Fastenal stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal 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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