Fastenal Company $FAST Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Fastenal Company (NASDAQ:FAST) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,860,441 shares of the company’s stock after selling 282,367 shares during the quarter. Fastenal accounts for 0.6% of Thrivent Financial for Lutherans’ portfolio, making the stock its 22nd largest position. Thrivent Financial for Lutherans owned 0.51% of Fastenal worth $287,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hilltop National Bank bought a new stake in shares of Fastenal in the second quarter worth $27,000. Private Wealth Management Group LLC grew its holdings in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter worth about $27,000. NewSquare Capital LLC raised its stake in shares of Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 474 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Fastenal by 96.1% during the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FAST has been the subject of several research analyst reports. Wolfe Research lowered their price objective on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Barclays set a $43.00 price objective on Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, Robert W. Baird dropped their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.00.

Fastenal Stock Performance

Shares of FAST opened at $43.36 on Friday. The firm has a fifty day moving average of $41.86 and a 200-day moving average of $44.44. The company has a market cap of $49.78 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. As a group, equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

Insider Buying and Selling

In related news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $495,800. This represents a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Fastenal Company Profile

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.