Atria Investments Inc Cuts Holdings in Fastenal (NASDAQ:FAST)

Atria Investments Inc decreased its position in shares of Fastenal (NASDAQ:FAST) by 16.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,050 shares of the company’s stock after selling 11,370 shares during the period. Atria Investments Inc’s holdings in Fastenal were worth $4,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Central Valley Advisors LLC purchased a new position in Fastenal during the 2nd quarter valued at about $28,000. Triad Wealth Partners LLC acquired a new stake in Fastenal during the second quarter worth approximately $32,000. Crewe Advisors LLC lifted its holdings in shares of Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after acquiring an additional 428 shares during the period. Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Fastenal in the second quarter worth $35,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 222,079 shares of company stock valued at $16,563,600. Insiders own 0.41% of the company’s stock.

Fastenal Stock Down 1.0 %

FAST opened at $83.50 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The company has a fifty day moving average of $73.61 and a two-hundred day moving average of $68.83. The stock has a market capitalization of $47.84 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 4.88 and a beta of 0.99. Fastenal has a fifty-two week low of $59.47 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Fastenal will post 2.03 earnings per share for the current 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FAST. JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Stephens upped their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Bank of America began coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Robert W. Baird upped their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.33.

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.