Gulf International Bank UK Ltd Sells 1,979 Shares of Fastenal (NASDAQ:FAST)

Gulf International Bank UK Ltd reduced its stake in shares of Fastenal (NASDAQ:FAST) by 4.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,196 shares of the company’s stock after selling 1,979 shares during the period. Gulf International Bank UK Ltd’s holdings in Fastenal were worth $3,227,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in Fastenal by 497.3% during the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after purchasing an additional 2,580,478 shares during the period. Marshall Wace LLP lifted its position in shares of Fastenal by 4,008.2% during the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after buying an additional 737,833 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after acquiring an additional 636,546 shares during the period. Renaissance Technologies LLC purchased a new stake in Fastenal in the 2nd quarter worth about $37,659,000. Finally, TD Asset Management Inc raised its stake in Fastenal by 21.2% in the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after acquiring an additional 569,118 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $78.09 on Wednesday. Fastenal has a 12-month low of $58.23 and a 12-month high of $79.04. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company has a market cap of $44.74 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The stock has a 50-day moving average price of $72.35 and a 200-day moving average price of $68.38.

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

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.00%. Fastenal’s payout ratio is 77.61%.

Insider Transactions at Fastenal

In related news, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at $465,667.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 190,261 shares of company stock worth $13,874,979. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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. Jefferies Financial Group lowered their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stifel Nicolaus restated a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, Stephens upped their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $73.33.

About Fastenal

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.