Thrivent Financial for Lutherans Purchases 517,172 Shares of Fastenal (NASDAQ:FAST)

Thrivent Financial for Lutherans increased its stake in Fastenal (NASDAQ:FAST) by 13.2% during the 2nd quarter, Holdings Channel reports. The firm owned 4,420,659 shares of the company’s stock after purchasing an additional 517,172 shares during the quarter. Fastenal comprises approximately 0.6% of Thrivent Financial for Lutherans’ portfolio, making the stock its 15th biggest holding. Thrivent Financial for Lutherans’ holdings in Fastenal were worth $277,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in shares of Fastenal in the 4th quarter worth approximately $747,000. Focus Financial Network Inc. ADV purchased a new position in Fastenal in the fourth quarter worth about $1,282,000. Clear Rock Advisors LLC purchased a new position in shares of Fastenal during the 4th quarter worth $2,936,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Fastenal by 98.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after buying an additional 58,726 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Fastenal during the 4th quarter valued at $1,078,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.9 %

FAST stock opened at $70.75 on Friday. The company has a market capitalization of $40.51 billion, a PE ratio of 35.20, a P/E/G ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04. The firm’s 50-day moving average is $68.05 and its 200 day moving average is $68.49.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, research analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio is 77.61%.

Analyst Ratings Changes

FAST has been the topic of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Morgan Stanley started coverage on shares of Fastenal in a report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Stephens reissued an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $67.43.

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.