Tema Etfs LLC Sells 99,536 Shares of Fastenal Company $FAST

Tema Etfs LLC lessened its holdings in Fastenal Company (NASDAQ:FAST) by 55.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Fastenal during the 4th quarter worth about $496,000. Integrated Wealth Concepts LLC raised its stake in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fastenal by 105.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 80,846 shares of the company’s stock valued at $3,396,000 after acquiring an additional 41,410 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Fastenal by 366.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 15,642 shares of the company’s stock worth $657,000 after purchasing an additional 12,291 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Fastenal by 103.3% in the 2nd quarter. M&T Bank Corp now owns 194,197 shares of the company’s stock worth $8,156,000 after purchasing an additional 98,695 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of the business’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 transaction, the director owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. This represents a 48.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FAST has been the topic of several analyst reports. Benchmark reiterated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Wolfe Research boosted their price objective on shares of Fastenal from $43.00 to $46.00 and gave the stock an “underperform” rating in a research note on Tuesday. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Finally, Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $49.08.

Fastenal Stock Performance

FAST opened at $46.63 on Thursday. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $45.63 and its two-hundred day moving average price is $43.81. The firm has a market capitalization of $53.55 billion, a P/E ratio of 42.39, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

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.