Baillie Gifford & Co. Sells 343,782 Shares of Fastenal Company $FAST

Baillie Gifford & Co. lessened its holdings in Fastenal Company (NASDAQ:FAST) by 12.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,431,299 shares of the company’s stock after selling 343,782 shares during the period. Baillie Gifford & Co. owned 0.21% of Fastenal worth $119,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Riverview Trust Co lifted its stake in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in Fastenal in the 2nd quarter valued at about $27,000. Private Wealth Management Group LLC raised its holdings in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal during the second quarter worth approximately $27,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

NASDAQ:FAST opened at $43.89 on Friday. The company has a market cap of $50.39 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.81 and a beta of 0.90. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.85. The stock has a fifty day moving average price of $41.47 and a 200-day moving average price of $44.45.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Fastenal’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is presently 80.00%.

Insider Buying and Selling

In other news, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $198,000. The trade was a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FAST shares. Robert W. Baird lowered their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Barclays set a $43.00 price objective on Fastenal and gave the company an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday. Wolfe Research reduced their target price on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, UBS Group restated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $48.00.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.