Chicago Partners Investment Group LLC Purchases 1,246 Shares of Fastenal (NASDAQ:FAST)

Chicago Partners Investment Group LLC lifted its stake in Fastenal (NASDAQ:FAST) by 34.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,895 shares of the company’s stock after buying an additional 1,246 shares during the period. Chicago Partners Investment Group LLC’s holdings in Fastenal were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Fastenal by 3.4% in the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after buying an additional 193,734 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Fastenal by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company’s stock valued at $293,179,000 after buying an additional 66,130 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Fastenal by 13.2% in the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock valued at $277,794,000 after buying an additional 517,172 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after buying an additional 636,546 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Fastenal by 21.2% in the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird boosted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group lowered their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Stock Up 0.3 %

Shares of NASDAQ:FAST opened at $78.09 on Wednesday. The company has a fifty day moving average of $72.35 and a 200-day moving average of $68.38. The company has a market capitalization of $44.74 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a 52-week low of $58.23 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. On average, equities analysts predict that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. Fastenal’s dividend payout ratio is 77.61%.

Insider Buying and Selling

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. Insiders have sold a total of 190,261 shares of company stock valued at $13,874,979 over the last 90 days. 0.41% of the stock is owned by insiders.

Fastenal Company 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.