Mawer Investment Management Ltd. Has $45.98 Million Position in Fastenal (NASDAQ:FAST)

Mawer Investment Management Ltd. lowered its stake in shares of Fastenal (NASDAQ:FAST) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 890,986 shares of the company’s stock after selling 1,028 shares during the period. Mawer Investment Management Ltd. owned about 0.15% of Fastenal worth $45,984,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its stake in shares of Fastenal by 0.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 75,650 shares of the company’s stock valued at $3,904,000 after purchasing an additional 489 shares during the last quarter. Formidable Asset Management LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at $824,000. IndexIQ Advisors LLC lifted its position in Fastenal by 5.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 9,944 shares of the company’s stock worth $513,000 after acquiring an additional 485 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its position in Fastenal by 0.4% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 1,486,641 shares of the company’s stock worth $76,726,000 after acquiring an additional 5,347 shares during the last quarter. Finally, Tredje AP fonden acquired a new position in Fastenal during the 3rd quarter worth $3,871,000. 77.19% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on FAST shares. Wells Fargo & Company lowered shares of Fastenal from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $45.00 in a research report on Friday, October 8th. Loop Capital boosted their price objective on shares of Fastenal from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Tuesday, December 7th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on shares of Fastenal from $48.00 to $53.00 and gave the stock an “underweight” rating in a report on Friday. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Tuesday, September 28th. Finally, Robert W. Baird upped their target price on shares of Fastenal from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, December 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $56.50.

In other Fastenal news, EVP James C. Jansen sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $62.02, for a total value of $1,550,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 6,630 shares of the stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $62.99, for a total transaction of $417,623.70. The disclosure for this sale can be found here. Insiders sold 38,058 shares of company stock worth $2,349,690 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Shares of FAST stock traded down $1.49 during trading hours on Friday, reaching $59.26. 112,583 shares of the company were exchanged, compared to its average volume of 2,457,588. Fastenal has a fifty-two week low of $43.37 and a fifty-two week high of $64.75. The stock’s fifty day moving average is $61.45 and its two-hundred day moving average is $56.82. The company has a market cap of $34.08 billion, a price-to-earnings ratio of 38.90, a P/E/G ratio of 3.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.18 and a quick ratio of 2.07.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 12th. The company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Fastenal had a net margin of 15.25% and a return on equity of 31.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $0.38 earnings per share. Fastenal’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 1.57 earnings per share for the current year.

About Fastenal

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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