Fastenal Company $FAST is Tema Etfs LLC’s 8th Largest Position

Tema Etfs LLC increased its position in Fastenal Company (NASDAQ:FAST) by 34.8% during the 2nd quarter, Holdings Channel reports. The firm owned 167,938 shares of the company’s stock after acquiring an additional 43,356 shares during the quarter. Fastenal comprises approximately 1.9% of Tema Etfs LLC’s investment portfolio, making the stock its 8th largest holding. Tema Etfs LLC’s holdings in Fastenal were worth $7,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Fastenal by 103.5% in the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after buying an additional 75,852,223 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fastenal by 103.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after acquiring an additional 18,329,847 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Fastenal by 87.9% in the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after acquiring an additional 16,308,254 shares during the period. Finally, Invesco Ltd. lifted its stake in Fastenal by 141.9% in the second quarter. Invesco Ltd. now owns 15,973,759 shares of the company’s stock worth $670,898,000 after acquiring an additional 9,370,909 shares during the period. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Northcoast Research assumed coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating on the stock. Sanford C. Bernstein assumed coverage on shares of Fastenal in a research note on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Robert W. Baird lowered their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.32.

Insider Activity

In other Fastenal news, Director Sarah N. Nielsen bought 1,000 shares of Fastenal stock in a transaction that occurred on 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 3,000 shares of company stock worth $131,630 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Stock Up 1.3%

Shares of Fastenal stock opened at $41.75 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $47.93 billion, a P/E ratio of 39.02, a PEG ratio of 3.45 and a beta of 0.89. The firm’s 50 day moving average price is $42.66 and its 200-day moving average price is $44.37. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $0.26 earnings per share. Fastenal’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

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.