MassMutual Private Wealth & Trust FSB Has $180,000 Stock Holdings in Fastenal (NASDAQ:FAST)

MassMutual Private Wealth & Trust FSB grew its stake in shares of Fastenal (NASDAQ:FAST) by 9.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,500 shares of the company’s stock after acquiring an additional 224 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Fastenal were worth $180,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its stake in Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after acquiring an additional 608,596 shares during the last quarter. Geode Capital Management LLC increased its stake in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after acquiring an additional 880,372 shares during the last quarter. Legal & General Group Plc raised its position in Fastenal by 3.4% during the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after purchasing an additional 193,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Fastenal by 5.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after purchasing an additional 226,126 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 over the last three months. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FAST shares. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday. UBS Group began coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research note on Wednesday, December 11th. Robert W. Baird upped their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Down 0.6 %

Shares of NASDAQ:FAST opened at $75.60 on Thursday. The firm has a market cap of $43.31 billion, a P/E ratio of 37.61, a P/E/G ratio of 4.22 and a beta of 1.02. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The business has a fifty day simple moving average of $77.60 and a 200 day simple moving average of $73.26. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same quarter last year, the business earned $0.46 earnings per share. Fastenal’s revenue was up 3.7% compared to the same quarter last year. Analysts predict that Fastenal will post 2.16 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is currently 77.61%.

Fastenal Profile

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.