CHICAGO TRUST Co NA Grows Stock Holdings in Fastenal Company $FAST

CHICAGO TRUST Co NA boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 64.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,850 shares of the company’s stock after buying an additional 16,772 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Fastenal were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares in the last quarter. Sittner & Nelson LLC raised its holdings in Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after purchasing an additional 226 shares during the last quarter. Founders Capital Management LLC boosted its position in Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after purchasing an additional 228 shares in the last quarter. L2 Asset Management LLC grew its holdings in Fastenal by 4.8% in the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after purchasing an additional 248 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. grew its holdings in Fastenal by 3.2% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,025 shares of the company’s stock valued at $322,000 after purchasing an additional 250 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.6%

Fastenal stock opened at $47.75 on Thursday. The stock has a market cap of $54.82 billion, a PE ratio of 41.89, a P/E/G ratio of 3.06 and a beta of 0.72. The stock has a 50-day moving average price of $45.20 and a 200 day moving average price of $44.79. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, April 28th. Fastenal’s payout ratio is presently 84.21%.

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Barclays set a $46.00 price target on Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Morgan Stanley restated a “positive” rating and set a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Raymond James Financial set a $48.00 price target on shares of Fastenal in a report on Thursday, March 5th. Finally, Benchmark reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.57.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.