Bank Julius Baer & Co. Ltd Zurich lowered its stake in Fastenal (NASDAQ:FAST) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,500 shares of the company’s stock after selling 4,500 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Fastenal were worth $924,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Pacitti Group Inc. purchased a new stake in Fastenal during the second quarter worth $26,000. Barrett Asset Management LLC purchased a new stake in Fastenal during the second quarter worth $34,000. Newfound Research LLC purchased a new stake in Fastenal during the third quarter worth $35,000. Norway Savings Bank purchased a new stake in Fastenal during the third quarter worth $36,000. Finally, NuWave Investment Management LLC boosted its position in Fastenal by 375.9% during the third quarter. NuWave Investment Management LLC now owns 1,047 shares of the company’s stock worth $48,000 after purchasing an additional 827 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Fastenal from $54.00 to $52.00 in a research report on Wednesday, October 14th. Stephens started coverage on Fastenal in a research report on Thursday, October 15th. They set an “overweight” rating on the stock. ValuEngine downgraded Fastenal from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company downgraded Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Thursday, September 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.36.
NASDAQ FAST opened at $47.30 on Friday. The business’s 50-day moving average price is $45.63 and its 200 day moving average price is $44.24. Fastenal has a twelve month low of $26.72 and a twelve month high of $49.86. The company has a market capitalization of $27.15 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company has a current ratio of 4.39, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.
Fastenal (NASDAQ:FAST) last released its earnings results on Sunday, October 18th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Fastenal will post 1.47 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Tuesday, December 22nd. Investors of record on Wednesday, December 2nd will be given a dividend of $0.40 per share. Fastenal’s dividend payout ratio (DPR) is presently 72.46%.
In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction on Friday, October 16th. The stock was bought at an average cost of $45.00 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $45,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terry Modock Owen sold 1,250 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.53, for a total value of $61,912.50. The disclosure for this sale can be found here. Insiders have purchased 4,100 shares of company stock worth $183,522 over the last quarter. 0.57% of the stock is currently owned by company insiders.
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.