Fastenal (NASDAQ:FAST) Shares Bought by Paradiem LLC

Paradiem LLC grew its position in shares of Fastenal (NASDAQ:FAST) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,283 shares of the company’s stock after acquiring an additional 24,403 shares during the quarter. Fastenal comprises 3.3% of Paradiem LLC’s portfolio, making the stock its 8th biggest position. Paradiem LLC’s holdings in Fastenal were worth $12,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Fastenal by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,142 shares of the company’s stock worth $135,000 after buying an additional 368 shares during the period. Public Sector Pension Investment Board boosted its holdings in Fastenal by 74.0% in the second quarter. Public Sector Pension Investment Board now owns 21,987 shares of the company’s stock valued at $1,382,000 after purchasing an additional 9,351 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Fastenal by 3.1% in the second quarter. Evergreen Capital Management LLC now owns 9,639 shares of the company’s stock valued at $606,000 after purchasing an additional 292 shares during the last quarter. Marshall Wace LLP boosted its holdings in Fastenal by 4,008.2% in the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after purchasing an additional 737,833 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Fastenal by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,651 shares of the company’s stock valued at $6,890,000 after purchasing an additional 41,429 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FAST shares. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Stifel Nicolaus reduced their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday. Jefferies Financial Group increased their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Morgan Stanley increased their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, Robert W. Baird upped their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Stock Down 0.6 %

FAST opened at $75.60 on Thursday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The stock has a market cap of $43.31 billion, a P/E ratio of 37.61, a P/E/G ratio of 4.22 and a beta of 1.02. The stock’s 50 day moving average price is $77.60 and its 200 day moving average price is $73.26.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1,842,560.16 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, research analysts predict that Fastenal will post 2.16 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 directly owns 286,018 shares of the company’s stock, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

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.