Paradiem LLC Increases Stake in Fastenal (NASDAQ:FAST)

Paradiem LLC boosted its position in Fastenal (NASDAQ:FAST) by 32.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,191 shares of the company’s stock after acquiring an additional 30,472 shares during the period. Fastenal accounts for 2.3% of Paradiem LLC’s investment portfolio, making the stock its 7th biggest position. Paradiem LLC’s holdings in Fastenal were worth $8,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FAST. Hartford Financial Management Inc. grew its stake in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the fourth quarter worth approximately $35,000. Criterion Capital Advisors LLC bought a new stake in shares of Fastenal in the fourth quarter worth approximately $43,000. Pacific Center for Financial Services bought a new stake in shares of Fastenal in the third quarter worth approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after acquiring an additional 474 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FAST. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital cut their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird dropped their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.67.

Insider Activity

In other news, EVP Anthony Paul Broersma sold 5,586 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is currently owned by company insiders.

Fastenal Trading Up 0.0 %

Shares of FAST traded up $0.03 during midday trading on Friday, hitting $68.17. The stock had a trading volume of 2,802,015 shares, compared to its average volume of 4,004,192. Fastenal has a 1 year low of $52.66 and a 1 year high of $79.04. The firm has a market cap of $39.03 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock’s 50 day moving average is $73.41 and its 200 day moving average is $66.80.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

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.