MassMutual Private Wealth & Trust FSB Has $290,000 Stock Holdings in Fastenal Company $FAST

MassMutual Private Wealth & Trust FSB increased its position in Fastenal Company (NASDAQ:FAST) by 107.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,901 shares of the company’s stock after purchasing an additional 3,571 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Fastenal were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Fastenal by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the period. Picton Mahoney Asset Management lifted its position in Fastenal by 7.5% in the first quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock worth $14,074,000 after purchasing an additional 12,721 shares during the period. KLP Kapitalforvaltning AS lifted its position in Fastenal by 3.9% in the first quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock worth $15,180,000 after purchasing an additional 7,400 shares during the period. Raiffeisen Bank International AG lifted its position in Fastenal by 21.5% in the first quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company’s stock worth $2,712,000 after purchasing an additional 6,303 shares during the period. Finally, Deutsche Bank AG lifted its position in Fastenal by 23.9% in the first quarter. Deutsche Bank AG now owns 2,459,124 shares of the company’s stock worth $190,705,000 after purchasing an additional 473,987 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST stock opened at $47.22 on Friday. The stock has a 50-day moving average price of $47.76 and a 200 day moving average price of $42.82. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The firm has a market cap of $54.19 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 4.29 and a beta of 0.97. Fastenal Company has a 12 month low of $34.69 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, July 29th. Fastenal’s payout ratio is 84.62%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus set a $82.00 target price on Fastenal in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price objective on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Finally, Northcoast Research began coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $46.82.

Insiders Place Their Bets

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider owned 11,880 shares in the company, valued at $570,834. The trade was a 80.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,230 shares of company stock worth $5,288,364. Company insiders own 0.37% of the company’s stock.

Fastenal Company 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.