Chicago Partners Investment Group LLC Has $662,000 Stake in Fastenal (NASDAQ:FAST)

Chicago Partners Investment Group LLC increased its holdings in Fastenal (NASDAQ:FAST) by 85.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,078 shares of the company’s stock after buying an additional 4,183 shares during the period. Chicago Partners Investment Group LLC’s holdings in Fastenal were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after buying an additional 608,596 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fastenal by 5.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock valued at $336,974,000 after acquiring an additional 226,126 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Fastenal by 3.8% in the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after acquiring an additional 165,423 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAST has been the topic of a number of recent analyst reports. Wolfe Research lifted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus decreased their price objective on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $76.91.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,772 shares of company stock worth $5,365,455. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $73.72 on Tuesday. The firm’s 50-day moving average price is $76.43 and its 200-day moving average price is $73.78. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The firm has a market capitalization of $42.23 billion, a P/E ratio of 36.68, a P/E/G ratio of 3.48 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Equities research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.43 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.33%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

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.