Tema Etfs LLC Has $7.05 Million Stake in Fastenal Company $FAST

Tema Etfs LLC grew its position in shares of Fastenal Company (NASDAQ:FAST) by 34.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,938 shares of the company’s stock after purchasing an additional 43,356 shares during the period. Fastenal makes up approximately 1.9% of Tema Etfs LLC’s investment portfolio, making the stock its 8th biggest position. Tema Etfs LLC’s holdings in Fastenal were worth $7,053,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Fastenal during the 4th quarter valued at approximately $496,000. XTX Topco Ltd bought a new position in shares of Fastenal during the 1st quarter valued at approximately $542,000. New Age Alpha Advisors LLC boosted its position in shares of Fastenal by 90,397.7% during the 1st quarter. New Age Alpha Advisors LLC now owns 38,914 shares of the company’s stock valued at $3,018,000 after acquiring an additional 38,871 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Fastenal by 10.8% in the first quarter. Atria Wealth Solutions Inc. now owns 15,088 shares of the company’s stock valued at $1,170,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Fastenal by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,788,656 shares of the company’s stock worth $448,910,000 after purchasing an additional 375,818 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 3,000 shares of company stock valued at $131,630. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on FAST shares. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Northcoast Research began coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Barclays reduced their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, Robert W. Baird decreased their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.32.

Fastenal Price Performance

FAST stock opened at $41.75 on Friday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $42.66 and a 200 day moving average price of $44.37. The stock has a market cap of $47.93 billion, a PE ratio of 39.02, a P/E/G ratio of 3.45 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

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.