Fastenal (NASDAQ:FAST) is Paradiem LLC’s 8th Largest Position

Paradiem LLC increased its position in shares of Fastenal (NASDAQ:FAST) by 16.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 171,283 shares of the company’s stock after buying an additional 24,403 shares during the quarter. Fastenal comprises about 3.3% of Paradiem LLC’s holdings, making the stock its 8th biggest position. Paradiem LLC’s holdings in Fastenal were worth $12,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Fastenal during the third quarter valued at about $25,000. Knuff & Co LLC bought a new position in Fastenal during the third quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC raised its holdings in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares in the last quarter. First Personal Financial Services bought a new position in Fastenal during the third quarter valued at about $36,000. Finally, CVA Family Office LLC raised its holdings in Fastenal by 51.0% during the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after buying an additional 180 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FAST. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley raised their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Stephens raised their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.91.

Insider Activity

In related news, CEO Daniel L. Florness sold 31,818 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,553,400. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,660 shares of company stock worth $6,211,126. Insiders own 0.41% of the company’s stock.

Fastenal Stock Down 0.6 %

NASDAQ FAST opened at $75.60 on Thursday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $77.60 and its two-hundred day moving average is $73.26. The company has a market capitalization of $43.31 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 4.22 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for 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 for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. Equities analysts forecast that Fastenal will post 2.16 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 77.61%.

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.