Paradiem LLC Has $8.11 Million Stock Position in Fastenal (NASDAQ:FAST)

Paradiem LLC raised its position in Fastenal (NASDAQ:FAST - Free Report) by 32.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,191 shares of the company's stock after buying an additional 30,472 shares during the quarter. Fastenal accounts for 2.3% of Paradiem LLC's holdings, making the stock its 7th biggest holding. Paradiem LLC's holdings in Fastenal were worth $8,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company's stock valued at $751,780,000 after buying an additional 423,112 shares in the last quarter. Morgan Stanley grew its holdings in shares of Fastenal by 4.1% during the 3rd quarter. Morgan Stanley now owns 8,582,669 shares of the company's stock worth $468,957,000 after purchasing an additional 337,168 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Fastenal by 5.9% during the 3rd quarter. Northern Trust Corp now owns 7,444,498 shares of the company's stock worth $406,767,000 after purchasing an additional 413,572 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company's stock worth $368,563,000 after purchasing an additional 957,091 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company's stock worth $363,445,000 after purchasing an additional 568,372 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Daniel L. Johnson bought 3,350 shares of the company's stock in a transaction on Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company's stock, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,082 shares of company stock worth $2,584,060. 0.41% of the stock is currently owned by insiders.

Fastenal Price Performance

NASDAQ:FAST traded up $0.03 during trading hours on Friday, hitting $68.17. The company's stock had a trading volume of 2,802,015 shares, compared to its average volume of 4,004,192. The stock has a fifty day simple moving average of $73.41 and a 200-day simple moving average of $66.88. The company has a market capitalization of $39.03 billion, a P/E ratio of 33.75, a PEG 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. Fastenal has a twelve month low of $52.66 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. On average, analysts anticipate that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on FAST shares. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, April 15th. Robert W. Baird reduced their target price on Fastenal from $77.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, April 12th. Loop Capital reduced their target price on Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a report on Monday, April 15th. Finally, Stifel Nicolaus increased their target price on Fastenal from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $67.67.

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.