Parthenon LLC Has $19.47 Million Position in Fastenal (NASDAQ:FAST)

Parthenon LLC grew its position in shares of Fastenal (NASDAQ:FAST) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272,598 shares of the company’s stock after purchasing an additional 561 shares during the quarter. Fastenal makes up 2.3% of Parthenon LLC’s holdings, making the stock its 12th biggest holding. Parthenon LLC’s holdings in Fastenal were worth $19,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its position in Fastenal by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after purchasing an additional 142 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Fastenal by 5.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after acquiring an additional 143 shares during the last quarter. Compass Ion Advisors LLC lifted its stake in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares during the period. Catalina Capital Group LLC boosted its holdings in Fastenal by 4.5% in the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after acquiring an additional 146 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. increased its position in Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In related news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,079 shares of company stock valued at $16,563,600. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on FAST. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. 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. Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Finally, Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.33.

Fastenal Stock Up 0.7 %

Shares of NASDAQ FAST traded up $0.60 during midday trading on Wednesday, hitting $84.10. 271,223 shares of the stock traded hands, compared to its average volume of 3,310,432. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a one year low of $59.47 and a one year high of $84.88. The business has a 50 day moving average price of $73.61 and a two-hundred day moving average price of $68.83. The company has a market cap of $48.18 billion, a PE ratio of 41.54, a P/E/G ratio of 4.94 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business 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 business posted $0.52 EPS. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.85%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

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.