Fastenal Company $FAST Shares Purchased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Fastenal Company (NASDAQ:FAST) by 70.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,499 shares of the company’s stock after acquiring an additional 68,335 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Fastenal were worth $7,074,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FAST. Brighton Jones LLC purchased a new position in Fastenal in the fourth quarter valued at about $496,000. AE Wealth Management LLC grew its holdings in shares of Fastenal by 1.7% in the 1st quarter. AE Wealth Management LLC now owns 55,255 shares of the company’s stock worth $4,285,000 after acquiring an additional 939 shares during the period. Pinnacle Associates Ltd. increased its stake in Fastenal by 3.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock valued at $392,000 after purchasing an additional 154 shares in the last quarter. Advisor OS LLC acquired a new position in Fastenal during the first quarter worth $203,000. Finally, Avantax Advisory Services Inc. grew its holdings in Fastenal by 26.4% in the first quarter. Avantax Advisory Services Inc. now owns 42,767 shares of the company’s stock valued at $3,317,000 after purchasing an additional 8,928 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FAST shares. Sanford C. Bernstein began coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target for the company. Northcoast Research began coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating on the stock. Robert W. Baird cut their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.32.

Fastenal Price Performance

FAST stock opened at $39.91 on Friday. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The stock’s fifty day simple moving average is $43.92 and its 200-day simple moving average is $44.34. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. 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 (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Equities research analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is presently 82.24%.

Insider Activity at Fastenal

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

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.