Paradiem LLC Has $8.11 Million Holdings in Fastenal (NASDAQ:FAST)

Paradiem LLC grew its position in Fastenal (NASDAQ:FAST) by 32.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 125,191 shares of the company’s stock after buying an additional 30,472 shares during the period. Fastenal makes up approximately 2.3% of Paradiem LLC’s investment portfolio, making the stock its 7th largest position. Paradiem LLC’s holdings in Fastenal were worth $8,109,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Fastenal by 3.2% during the 3rd 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. Morgan Stanley grew its stake in Fastenal by 4.1% during the 3rd quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock worth $468,957,000 after buying an additional 337,168 shares during the last quarter. Northern Trust Corp grew its stake in Fastenal by 5.9% during the 3rd quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock worth $406,767,000 after buying an additional 413,572 shares during the last quarter. Invesco Ltd. boosted its position in Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after acquiring an additional 957,091 shares during the period. Finally, Royal Bank of Canada boosted its position in Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after acquiring an additional 568,372 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. Insiders sold a total of 36,082 shares of company stock worth $2,584,060 in the last 90 days. 0.41% of the stock is owned by company insiders.

Fastenal Stock Up 0.0 %

NASDAQ:FAST traded up $0.03 during trading hours on Friday, hitting $68.17. 2,802,015 shares of the company’s stock traded hands, compared to its average volume of 4,004,192. The firm has a market cap of $39.03 billion, a P/E ratio of 33.75, a P/E/G ratio of 3.57 and a beta of 1.05. Fastenal has a twelve month low of $52.66 and a twelve month high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The stock’s fifty day moving average price is $73.41 and its two-hundred day moving average price is $66.80.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.29%. Fastenal’s payout ratio is 77.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Loop Capital cut their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Stifel Nicolaus upped their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $67.67.

About Fastenal

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.