Fastenal Company $FAST Stock Position Increased by Tema Etfs LLC

Tema Etfs LLC lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 49.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 124,582 shares of the company’s stock after acquiring an additional 41,340 shares during the quarter. Fastenal accounts for about 2.9% of Tema Etfs LLC’s investment portfolio, making the stock its 5th largest holding. Tema Etfs LLC’s holdings in Fastenal were worth $9,661,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Fastenal by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock valued at $3,817,000 after buying an additional 130 shares in the last quarter. Welch & Forbes LLC lifted its stake in shares of Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock valued at $2,559,000 after buying an additional 135 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Fastenal by 0.9% during the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock valued at $1,142,000 after buying an additional 140 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in shares of Fastenal by 1.6% during the 1st quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $698,000 after buying an additional 141 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its stake in Fastenal by 1.7% in the 1st quarter. Essex Financial Services Inc. now owns 8,870 shares of the company’s stock worth $688,000 after purchasing an additional 147 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FAST shares. Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Finally, Loop Capital reiterated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.36.

Insider Buying and Selling at Fastenal

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares in the company, valued at $460,780.32. This trade represents a 67.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the transaction, the insider owned 11,880 shares in the company, valued at approximately $570,834. The trade was a 80.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,230 shares of company stock worth $5,288,364 in the last 90 days. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $50.20 on Thursday. The company’s fifty day moving average price is $45.77 and its 200-day moving average price is $41.59. The firm has a market capitalization of $57.61 billion, a price-to-earnings ratio of 48.27, a PEG ratio of 4.55 and a beta of 0.95. Fastenal Company has a one year low of $32.04 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, July 29th. Fastenal’s dividend payout ratio (DPR) is presently 84.62%.

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.