Fastenal (NASDAQ:FAST) Shares Sold by Chicago Capital LLC

Chicago Capital LLC reduced its position in shares of Fastenal (NASDAQ:FASTFree Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,528 shares of the company’s stock after selling 3,662 shares during the period. Chicago Capital LLC’s holdings in Fastenal were worth $9,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Fastenal by 0.3% in the first quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock worth $2,435,637,000 after buying an additional 138,257 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after buying an additional 423,112 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fastenal by 0.9% in the first quarter. Geode Capital Management LLC now owns 13,676,410 shares of the company’s stock worth $736,259,000 after buying an additional 117,040 shares during the last quarter. Morgan Stanley increased its stake in shares of Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after buying an additional 2,492,722 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Fastenal by 0.6% in the first quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after buying an additional 41,898 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $76.59 on Tuesday. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The company has a market cap of $43.83 billion, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.27 and a current ratio of 4.57. The firm has a fifty day moving average of $72.63 and a 200-day moving average of $64.57.

Fastenal (NASDAQ:FASTGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 1st were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.04%. This is an increase from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, January 31st. Fastenal’s dividend payout ratio is presently 77.23%.

Insider Activity

In other news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,682 shares of company stock worth $7,375,853. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.50.

Check Out Our Latest Research Report on FAST

Fastenal Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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