Segall Bryant & Hamill LLC Buys Shares of 12,000 Fastenal (NASDAQ:FAST)

Segall Bryant & Hamill LLC purchased a new position in shares of Fastenal (NASDAQ:FAST) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,000 shares of the company’s stock, valued at approximately $857,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the 3rd quarter worth approximately $25,000. Knuff & Co LLC purchased a new position in Fastenal during the 3rd quarter worth $27,000. Central Valley Advisors LLC purchased a new position in Fastenal during the 2nd quarter worth $28,000. Triad Wealth Partners LLC bought a new stake in shares of Fastenal during the 2nd quarter worth $32,000. Finally, Crewe Advisors LLC raised its stake in shares of Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.9 %

Shares of NASDAQ FAST opened at $83.08 on Monday. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $47.60 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 4.83 and a beta of 0.99. The business has a 50-day moving average of $76.26 and a 200-day moving average of $69.76.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Fastenal’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FAST shares. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Robert W. Baird boosted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley boosted their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.80.

Insiders Place Their Bets

In other Fastenal news, CFO Holden Lewis sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.52, for a total value of $2,295,600.00. Following the completion of the sale, the chief financial officer now owns 9,881 shares in the company, valued at approximately $756,094.12. The trade was a 75.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 14.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,289 shares of company stock valued at $16,123,438 over the last quarter. 0.41% of the stock is owned by corporate 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.