Kovitz Investment Group Partners LLC Has $252,000 Stock Position in Fastenal (NASDAQ:FAST)

Kovitz Investment Group Partners LLC boosted its stake in Fastenal (NASDAQ:FASTGet Rating) by 8.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,164 shares of the company’s stock after buying an additional 402 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Fastenal were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAST. Signaturefd LLC grew its stake in Fastenal by 15.0% in the 3rd quarter. Signaturefd LLC now owns 5,183 shares of the company’s stock valued at $267,000 after buying an additional 675 shares during the last quarter. Sigma Planning Corp grew its position in shares of Fastenal by 35.0% during the 3rd quarter. Sigma Planning Corp now owns 17,165 shares of the company’s stock worth $886,000 after purchasing an additional 4,453 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Fastenal by 200.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 30,571 shares of the company’s stock worth $1,578,000 after purchasing an additional 20,395 shares in the last quarter. Goelzer Investment Management Inc. grew its position in shares of Fastenal by 5.4% during the 3rd quarter. Goelzer Investment Management Inc. now owns 5,918 shares of the company’s stock worth $305,000 after purchasing an additional 305 shares in the last quarter. Finally, Ballast Advisors LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $871,000. Institutional investors and hedge funds own 77.18% of the company’s stock.

FAST has been the topic of a number of analyst reports. Robert W. Baird increased their target price on shares of Fastenal from $64.00 to $66.00 in a research report on Monday, March 7th. Morgan Stanley increased their target price on shares of Fastenal from $53.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, April 14th. Wells Fargo & Company increased their target price on shares of Fastenal from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 14th. Finally, StockNews.com upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $60.17.

In related news, Director Michael J. Ancius acquired 730 shares of the company’s stock in a transaction that occurred on Thursday, January 20th. The stock was acquired at an average price of $57.18 per share, with a total value of $41,741.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Ancius acquired 650 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The stock was bought at an average cost of $56.41 per share, with a total value of $36,666.50. Following the purchase, the director now owns 25,952 shares in the company, valued at $1,463,952.32. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.

Shares of NASDAQ FAST traded up $0.86 during trading hours on Tuesday, hitting $55.81. 120,102 shares of the stock were exchanged, compared to its average volume of 3,575,929. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.92 and a current ratio of 4.07. The company has a market cap of $32.12 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.35 and a beta of 1.33. The company’s fifty day simple moving average is $55.32 and its two-hundred day simple moving average is $57.57. Fastenal has a 1-year low of $48.84 and a 1-year high of $64.75.

Fastenal (NASDAQ:FASTGet Rating) last posted its quarterly earnings results on Wednesday, April 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Fastenal had a net margin of 15.63% and a return on equity of 32.72%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. As a group, sell-side analysts expect that Fastenal will post 1.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, April 27th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, April 26th. This represents a $1.24 annualized dividend and a dividend yield of 2.22%. Fastenal’s dividend payout ratio is 72.52%.

Fastenal Profile (Get Rating)

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Further Reading

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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