Thrivent Financial for Lutherans Has $287.40 Million Holdings in Fastenal Company $FAST

Thrivent Financial for Lutherans reduced its position in shares of Fastenal Company (NASDAQ:FAST) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,860,441 shares of the company’s stock after selling 282,367 shares during the quarter. Fastenal accounts for 0.6% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 22nd biggest holding. Thrivent Financial for Lutherans’ holdings in Fastenal were worth $287,397,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FAST. Hilltop National Bank purchased a new position in Fastenal in the second quarter valued at about $27,000. Private Wealth Management Group LLC lifted its holdings in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Fastenal in the second quarter worth $27,000. NewSquare Capital LLC raised its holdings in Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after acquiring an additional 474 shares during the period. Finally, MV Capital Management Inc. increased its stake in shares of Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on FAST. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Wolfe Research cut their price target on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.00.

Fastenal Stock Performance

Shares of FAST opened at $43.36 on Friday. The firm has a market cap of $49.78 billion, a P/E ratio of 39.42, a PEG ratio of 2.76 and a beta of 0.90. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The firm’s 50 day moving average price is $41.86 and its two-hundred day moving average price is $44.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, January 29th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is presently 87.27%.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.