M&T Bank Corp boosted its holdings in Fastenal (NASDAQ:FAST) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 67,217 shares of the company’s stock after buying an additional 1,366 shares during the quarter. M&T Bank Corp’s holdings in Fastenal were worth $3,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FAST. Bank of New York Mellon Corp increased its position in shares of Fastenal by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares during the last quarter. Bares Capital Management Inc. increased its position in shares of Fastenal by 2.0% during the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock valued at $166,956,000 after purchasing an additional 70,166 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Fastenal by 58.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock valued at $131,700,000 after purchasing an additional 1,066,773 shares during the last quarter. Mcdonald Capital Investors Inc. CA increased its position in shares of Fastenal by 4.7% during the 3rd quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock valued at $104,168,000 after purchasing an additional 103,147 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its position in shares of Fastenal by 35.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 1,963,207 shares of the company’s stock valued at $89,483,000 after purchasing an additional 513,836 shares during the last quarter. Institutional investors and hedge funds own 84.23% of the company’s stock.

Several equities analysts have recently commented on FAST shares. Stephens increased their price objective on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, December 26th. Stifel Nicolaus restated a “hold” rating and set a $51.00 target price on shares of Fastenal in a report on Monday, December 11th. Credit Suisse Group upgraded Fastenal to a “buy” rating and set a $61.00 target price for the company in a report on Thursday, January 18th. Finally, Robert W. Baird restated a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Fastenal presently has an average rating of “Buy” and an average price target of $53.29.

Shares of Fastenal (FAST) opened at $54.65 on Thursday. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40. The firm has a market capitalization of $15,406.94, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted $0.40 EPS. The business’s revenue was up 14.8% on a year-over-year basis. sell-side analysts forecast that Fastenal will post 2.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is presently 73.63%.

In other news, insider Gary A. Polipnick sold 2,634 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $53.45, for a total value of $140,787.30. Following the completion of the transaction, the insider now owns 59,323 shares in the company, valued at approximately $3,170,814.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the transaction, the insider now owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,884 shares of company stock valued at $2,618,912. 0.55% of the stock is currently owned by company insiders.

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About Fastenal

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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