Baillie Gifford & Co. Buys 1,079 Shares of Fastenal (NASDAQ:FAST)

Baillie Gifford & Co. increased its position in Fastenal (NASDAQ:FAST) by 0.0% during the 3rd quarter, Holdings Channel reports. The firm owned 2,702,242 shares of the company’s stock after acquiring an additional 1,079 shares during the quarter. Baillie Gifford & Co.’s holdings in Fastenal were worth $192,994,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FAST. First National Trust Co bought a new position in Fastenal during the 3rd quarter worth about $211,000. Harbour Investments Inc. boosted its stake in shares of Fastenal by 9.7% during the third quarter. Harbour Investments Inc. now owns 13,980 shares of the company’s stock valued at $998,000 after purchasing an additional 1,231 shares in the last quarter. Versor Investments LP bought a new position in Fastenal in the third quarter worth approximately $921,000. Venturi Wealth Management LLC lifted its holdings in Fastenal by 2.0% during the third quarter. Venturi Wealth Management LLC now owns 15,544 shares of the company’s stock worth $1,110,000 after buying an additional 306 shares during the period. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Fastenal during the 3rd quarter valued at $655,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the transaction, the insider now owns 5,997 shares in the company, valued at approximately $465,667.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Joseph Drazkowski sold 16,362 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the transaction, the insider now owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,261 shares of company stock worth $13,874,979. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FAST. Bank of America began coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Morgan Stanley increased their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird lifted their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Price Performance

NASDAQ:FAST opened at $84.35 on Tuesday. The firm’s fifty day moving average is $73.61 and its two-hundred day moving average is $68.83. The firm has a market cap of $48.32 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 4.88 and a beta of 0.99. Fastenal has a one year low of $59.47 and a one year high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the business earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 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.