Tema Etfs LLC Has $9.66 Million Stock Holdings in Fastenal Company $FAST

Key Points

• Tema Etfs LLC increased its stake in Fastenal Company by 49.7% in the first quarter, adding 41,340 shares to total 124,582 shares, valued at approximately $9.66 million.
• In a recent insider transaction, Fastenal's CFO sold 21,052 shares, marking a 67.38% decrease in their position, while other insiders sold an aggregate of 111,230 shares amounting to over $5 million.
• Several brokerages have updated their ratings for Fastenal, with one boosting the target price from $47.00 to $55.00 and categorizing the stock as "outperform."

Tema Etfs LLC lifted its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 49.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,582 shares of the company's stock after buying an additional 41,340 shares during the period. Fastenal comprises about 2.9% of Tema Etfs LLC's investment portfolio, making the stock its 5th largest holding. Tema Etfs LLC's holdings in Fastenal were worth $9,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Fastenal by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock worth $3,817,000 after buying an additional 130 shares during the period. Welch & Forbes LLC boosted its position in shares of Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after buying an additional 135 shares during the period. Principal Securities Inc. boosted its position in shares of Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after buying an additional 140 shares during the period. Salvus Wealth Management LLC boosted its position in shares of Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock worth $698,000 after buying an additional 141 shares during the period. Finally, Essex Financial Services Inc. boosted its position in shares of Fastenal by 1.7% during the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock worth $688,000 after buying an additional 147 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus set a $82.00 price objective on Fastenal in a research report on Thursday, July 3rd. Morgan Stanley set a $40.00 price target on Fastenal and gave the company an "equal weight" rating in a research report on Thursday, July 3rd. Wolfe Research reissued a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and increased their price target for the company from $47.00 to $55.00 in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.36.

Fastenal Stock Performance

Shares of FAST traded down $0.52 during mid-day trading on Monday, reaching $49.66. The company's stock had a trading volume of 4,613,202 shares, compared to its average volume of 5,464,649. Fastenal Company has a 1-year low of $32.04 and a 1-year high of $50.63. The stock has a market cap of $56.99 billion, a P/E ratio of 47.75, a PEG ratio of 4.52 and a beta of 0.97. The business has a 50-day simple moving average of $46.11 and a two-hundred day simple moving average of $41.83. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. As a group, equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal's dividend payout ratio (DPR) is presently 84.62%.

Insider Transactions at Fastenal

In related news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the transaction, the chief financial officer directly owned 10,192 shares of the company's stock, valued at $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is currently owned by company insiders.

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.