Schroder Investment Management Group Buys 1,024,174 Shares of Fastenal Company $FAST

Schroder Investment Management Group grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 78.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,333,218 shares of the company’s stock after acquiring an additional 1,024,174 shares during the period. Schroder Investment Management Group owned 0.20% of Fastenal worth $97,995,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Fastenal during the first quarter worth approximately $36,000. Riverview Trust Co boosted its stake in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Zions Bancorporation National Association UT acquired a new position in Fastenal in the 1st quarter valued at $49,000. Private Wealth Management Group LLC increased its position in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares during the period. Finally, Hilltop National Bank bought a new position in Fastenal during the 2nd quarter worth $27,000. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Sanford C. Bernstein assumed coverage on shares of Fastenal in a research note on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Finally, Robert W. Baird dropped their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $46.32.

Fastenal Trading Up 0.3%

Shares of Fastenal stock opened at $40.42 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a market capitalization of $46.40 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 3.75 and a beta of 0.92. The firm’s 50-day moving average price is $43.20 and its two-hundred day moving average price is $44.39.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. On average, analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio is presently 82.24%.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. The trade was a 25.00% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 3,000 shares of company stock worth $131,630. Company insiders own 0.37% of the company’s stock.

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.