Fastenal (NASDAQ:FAST) Stock Position Reduced by Bank Julius Baer & Co. Ltd Zurich
Bank Julius Baer & Co. Ltd Zurich lessened its position in shares of Fastenal (NASDAQ:FAST) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FAST. CIBC Private Wealth Group LLC lifted its holdings in Fastenal by 15,946.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,902,020 shares of the company’s stock worth $85,748,000 after buying an additional 1,890,167 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Fastenal by 64.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,878,250 shares of the company’s stock worth $166,144,000 after purchasing an additional 1,526,965 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Fastenal by 27.6% in the 3rd quarter. Wells Fargo & Company MN now owns 3,754,079 shares of the company’s stock worth $169,271,000 after purchasing an additional 812,811 shares during the last quarter. FMR LLC lifted its holdings in shares of Fastenal by 72.5% in the 2nd quarter. FMR LLC now owns 1,627,880 shares of the company’s stock worth $69,738,000 after purchasing an additional 684,114 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Fastenal by 95.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,270,456 shares of the company’s stock worth $53,652,000 after purchasing an additional 621,129 shares during the last quarter. 77.18% of the stock is currently owned by institutional investors.
FAST opened at $47.30 on Friday. Fastenal has a 12 month low of $26.72 and a 12 month high of $49.86. The stock has a market cap of $27.15 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.52 and a beta of 1.21. The stock’s 50 day moving average price is $45.63 and its 200 day moving average price is $44.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.39 and a quick ratio of 2.16.
The company also recently declared a special dividend, which will be paid on Tuesday, December 22nd. Stockholders 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%.
FAST has been the topic of several recent research reports. Argus raised their price target on Fastenal from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Morgan Stanley raised their price target on Fastenal from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 14th. ValuEngine downgraded Fastenal from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Stephens started coverage on Fastenal in a research report on Thursday, October 15th. They issued an “overweight” rating on the stock. Finally, UBS Group started coverage on Fastenal in a research report on Tuesday, September 15th. They issued a “neutral” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Fastenal presently has an average rating of “Hold” and a consensus target price of $44.36.
In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction dated Friday, October 16th. The shares were bought at an average cost of $45.00 per share, for a total transaction of $45,000.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $45,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terry Modock Owen sold 1,250 shares of Fastenal stock in a transaction on Wednesday, September 2nd. The shares were 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. Over the last quarter, insiders have bought 4,100 shares of company stock worth $183,522. 0.57% of the stock is owned by insiders.
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.
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