Schroder Investment Management Group Raises Holdings in Fastenal (FAST)

Schroder Investment Management Group grew its holdings in shares of Fastenal (NASDAQ:FAST) by 4.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,528 shares of the company’s stock after purchasing an additional 5,789 shares during the quarter. Schroder Investment Management Group’s holdings in Fastenal were worth $6,015,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Fastenal by 5.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,717 shares of the company’s stock worth $1,172,000 after buying an additional 1,302 shares in the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of Fastenal by 76.6% in the third quarter. Achmea Investment Management B.V. now owns 33,901 shares of the company’s stock worth $1,541,000 after buying an additional 14,702 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Fastenal by 12.8% in the third quarter. Virginia Retirement Systems ET AL now owns 92,400 shares of the company’s stock worth $4,212,000 after buying an additional 10,500 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Fastenal by 4.7% in the third quarter. Legal & General Group Plc now owns 1,499,832 shares of the company’s stock worth $68,365,000 after buying an additional 67,715 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Fastenal in the third quarter worth about $64,702,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

FAST has been the topic of a number of recent analyst reports. KeyCorp reissued a “buy” rating and issued a $52.00 price target on shares of Fastenal in a report on Thursday, October 12th. BidaskClub downgraded shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 target price (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 target price on shares of Fastenal in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.80.

In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the insider now directly owns 22,588 shares in the company, valued at $1,151,988. The disclosure for this sale can be found here. Insiders have sold 80,112 shares of company stock worth $3,879,832 over the last three months. Insiders own 0.55% of the company’s stock.

Shares of Fastenal (FAST) opened at $53.78 on Monday. The firm has a market cap of $15,455.86, a P/E ratio of 28.61, a P/E/G ratio of 1.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. Fastenal has a one year low of $39.79 and a one year high of $55.35.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. Fastenal’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. equities analysts anticipate that Fastenal will post 1.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.

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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.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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