Chicago Capital LLC Sells 675 Shares of Fastenal (NASDAQ:FAST)

Chicago Capital LLC trimmed its position in shares of Fastenal (NASDAQ:FAST) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,656 shares of the company’s stock after selling 675 shares during the quarter. Chicago Capital LLC’s holdings in Fastenal were worth $10,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Central Valley Advisors LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $28,000. MCF Advisors LLC grew its holdings in shares of Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Fastenal during the second quarter worth $32,000. Crewe Advisors LLC increased its stake in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its position in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $77.90 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $44.60 billion, a P/E ratio of 38.76, a PEG ratio of 4.13 and a beta of 1.01. The business has a 50-day moving average of $69.92 and a 200-day moving average of $67.97. Fastenal has a 1 year low of $56.41 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities analysts anticipate that Fastenal will post 2.04 EPS for the current 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FAST shares. Robert W. Baird raised 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 began coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Stephens upped their target price on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.33.

Insiders Place Their Bets

In other news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,373 shares of company stock worth $13,029,308. Corporate insiders own 0.41% of the company’s stock.

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.