Schroder Investment Management Group Has $40.76 Million Stock Position in Fastenal (NASDAQ:FAST)

Schroder Investment Management Group decreased its holdings in Fastenal (NASDAQ:FASTFree Report) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 745,979 shares of the company’s stock after selling 79,999 shares during the period. Schroder Investment Management Group’s holdings in Fastenal were worth $40,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Missouri Trust & Investment Co acquired a new stake in Fastenal during the 2nd quarter valued at approximately $29,000. Resurgent Financial Advisors LLC purchased a new stake in Fastenal in the 4th quarter worth about $33,000. Sunbelt Securities Inc. boosted its stake in Fastenal by 131.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 341 shares during the period. Quarry LP boosted its position in shares of Fastenal by 184.9% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after acquiring an additional 440 shares during the last quarter. Finally, Cornerstone Planning Group LLC purchased a new position in Fastenal in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 78.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FAST. Robert W. Baird increased their price objective on Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday. Stifel Nicolaus upped their target price on Fastenal from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and a consensus target price of $62.83.

View Our Latest Stock Report on FAST

Insider Activity at Fastenal

In related news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the sale, the insider now directly owns 5,940 shares of the company’s stock, valued at approximately $417,285. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Lewis Soderberg sold 400 shares of Fastenal stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $63.17, for a total transaction of $25,268.00. Following the sale, the vice president now owns 488 shares in the company, valued at $30,826.96. The disclosure for this sale can be found here. Insiders have sold a total of 106,750 shares of company stock valued at $7,314,584 over the last quarter. 0.45% of the stock is owned by company insiders.

Fastenal Stock Performance

Shares of Fastenal stock opened at $75.94 on Friday. The firm’s 50-day simple moving average is $68.63 and its 200-day simple moving average is $62.24. The firm has a market cap of $43.46 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 3.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.27 and a current ratio of 4.57. Fastenal has a 1 year low of $50.30 and a 1 year high of $76.25.

Fastenal (NASDAQ:FASTGet Free Report) last posted its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.39 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $1.56 annualized dividend and a dividend yield of 2.05%. Fastenal’s payout ratio is presently 77.23%.

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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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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