Thrivent Financial for Lutherans Buys 48,977 Shares of Fastenal (NASDAQ:FAST)

Thrivent Financial for Lutherans lifted its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,469,636 shares of the company's stock after acquiring an additional 48,977 shares during the period. Fastenal makes up about 0.6% of Thrivent Financial for Lutherans' portfolio, making the stock its 11th largest holding. Thrivent Financial for Lutherans owned approximately 0.78% of Fastenal worth $319,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC bought a new position in shares of Fastenal during the third quarter valued at $310,000. Cetera Investment Advisers grew its holdings in Fastenal by 499.7% in the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company's stock worth $10,186,000 after purchasing an additional 110,027 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Fastenal by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company's stock valued at $13,259,000 after buying an additional 11,436 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of Fastenal in the second quarter valued at $2,643,000. Finally, Comgest Global Investors S.A.S. lifted its stake in shares of Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company's stock valued at $6,219,000 after buying an additional 36,742 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,033 shares of company stock valued at $19,240,434 in the last three months. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on FAST shares. Bank of America began coverage on shares of Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price target on the stock. Stifel Nicolaus reiterated a "buy" rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Robert W. Baird boosted their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $74.80.

Fastenal Trading Down 0.4 %

Fastenal stock traded down $0.31 during mid-day trading on Friday, reaching $81.85. 2,595,550 shares of the company traded hands, compared to its average volume of 2,821,170. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The firm's 50 day moving average price is $74.96 and its 200 day moving average price is $69.24. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 40.72, a P/E/G ratio of 4.80 and a beta of 0.99. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal's dividend payout ratio is presently 77.61%.

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.