Tema Etfs LLC Has $3.15 Million Stock Position in Fastenal Company $FAST

Tema Etfs LLC lowered its position in Fastenal Company (NASDAQ:FAST) by 55.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 78,475 shares of the company’s stock after selling 99,536 shares during the period. Tema Etfs LLC’s holdings in Fastenal were worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FAST. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal during the second quarter valued at approximately $27,000. SOA Wealth Advisors LLC. lifted its position in Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares during the period. REAP Financial Group LLC acquired a new stake in Fastenal during the third quarter worth $30,000. First Horizon Corp acquired a new stake in Fastenal during the third quarter worth $33,000. Finally, Financial Perspectives Inc increased its holdings in Fastenal by 414.0% in the 3rd quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $46.63 on Thursday. The firm has a market capitalization of $53.55 billion, a P/E ratio of 42.39, a P/E/G ratio of 2.95 and a beta of 0.84. The stock has a fifty day moving average price of $45.63 and a two-hundred day moving average price of $43.81. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Insider Activity

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FAST. Wolfe Research increased their price objective on shares of Fastenal from $43.00 to $46.00 and gave the company an “underperform” rating in a research note on Tuesday. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Barclays upped their target price on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Morgan Stanley restated a “positive” rating and set a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Finally, Benchmark reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.08.

About Fastenal

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.