Toronto Dominion Bank Increases Position in Fastenal (FAST)

Toronto Dominion Bank raised its stake in shares of Fastenal (NASDAQ:FAST) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,291 shares of the company’s stock after acquiring an additional 11,300 shares during the quarter. Toronto Dominion Bank’s holdings in Fastenal were worth $4,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FAST. Janus Henderson Group PLC lifted its position in shares of Fastenal by 357.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock worth $79,340,000 after buying an additional 1,423,856 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Fastenal by 580.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock worth $68,218,000 after buying an additional 1,276,832 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Fastenal by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock worth $1,374,380,000 after buying an additional 943,262 shares during the last quarter. Nicholas Company Inc. lifted its position in shares of Fastenal by 184.9% in the 2nd quarter. Nicholas Company Inc. now owns 1,210,440 shares of the company’s stock worth $52,690,000 after buying an additional 785,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Fastenal by 60.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,097 shares of the company’s stock worth $90,372,000 after buying an additional 781,071 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

In other news, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 80,112 shares of company stock worth $3,879,832. Insiders own 0.55% of the company’s stock.

A number of analysts recently weighed in on FAST shares. BidaskClub cut shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Monday, August 21st. Stephens set a $54.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.80.

Shares of Fastenal (NASDAQ FAST) traded up $2.70 on Monday, reaching $54.88. 5,335,737 shares of the company traded hands, compared to its average volume of 2,809,482. The company has a market capitalization of $15,830.00, a price-to-earnings ratio of 27.75, a PEG ratio of 1.93 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36. Fastenal has a 52-week low of $39.79 and a 52-week high of $55.35.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. research analysts expect that Fastenal will post 1.93 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio is 68.09%.

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Fastenal Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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