Atria Investments Inc Purchases 45,511 Shares of Fastenal Company $FAST

Atria Investments Inc lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 33.9% in the third quarter, HoldingsChannel.com reports. The firm owned 179,673 shares of the company’s stock after purchasing an additional 45,511 shares during the period. Atria Investments Inc’s holdings in Fastenal were worth $8,811,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Private Wealth Management Group LLC grew its position in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal in the second quarter worth $27,000. NewSquare Capital LLC lifted its stake in Fastenal by 197.5% in the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after acquiring an additional 474 shares during the period. MV Capital Management Inc. boosted its holdings in Fastenal by 96.1% in the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after acquiring an additional 349 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FAST. Robert W. Baird lifted their target price on shares of Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Barclays set a $43.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.18.

Fastenal Stock Down 3.1%

FAST stock opened at $45.55 on Friday. The business has a 50 day moving average of $42.98 and a 200 day moving average of $44.45. The firm has a market cap of $52.30 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is 87.27%.

Insider Activity

In other news, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $198,000. This represents a 25.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.