Thrivent Financial for Lutherans lifted its position in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,820,172 shares of the company’s stock after purchasing an additional 959,731 shares during the period. Fastenal accounts for about 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 25th biggest position. Thrivent Financial for Lutherans’ holdings in Fastenal were worth $273,699,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in FAST. Brighton Jones LLC bought a new position in shares of Fastenal during the fourth quarter valued at about $496,000. Integrated Wealth Concepts LLC raised its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the period. Quantbot Technologies LP bought a new stake in Fastenal in the second quarter worth about $158,000. Jump Financial LLC bought a new stake in Fastenal in the second quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC raised its position in Fastenal by 111.0% in the second quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after acquiring an additional 1,771 shares during the period. 81.38% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Barclays lifted their price objective on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research report on Tuesday, April 14th. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research report on Thursday, March 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $49.77.
Fastenal Price Performance
FAST opened at $43.98 on Friday. The company has a market capitalization of $50.49 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 2.79 and a beta of 0.75. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $45.42 and a 200-day moving average price of $43.64. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.
Fastenal (NASDAQ:FAST – Get Free Report) last posted its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. Equities analysts expect that Fastenal Company will post 1.23 EPS for the current year.
Fastenal Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.
Insider Buying and Selling at Fastenal
In other news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is owned by insiders.
Fastenal 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.
Featured Articles
- Five stocks we like better than Fastenal
- YETI Rallies After Earnings Beat and Raised Outlook
- How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
- Cisco’s Vertical Rally May Still Be in the Early Innings
- Amazon vs. Alibaba: One Is Clearly The Better Value Play right Now
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST – Free Report).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.
