Fastenal Company $FAST Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its position in shares of Fastenal Company (NASDAQ:FAST) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,208 shares of the company’s stock after selling 32,465 shares during the period. Atria Investments Inc’s holdings in Fastenal were worth $5,907,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Fastenal during the 4th quarter worth about $496,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the period. Quantbot Technologies LP purchased a new position in shares of Fastenal during the 2nd quarter worth about $158,000. Jump Financial LLC purchased a new position in shares of Fastenal during the 2nd quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Fastenal by 111.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after acquiring an additional 1,771 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein reiterated an “underperform” rating and set a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Wolfe Research cut their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Benchmark reiterated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Bank of America increased their price objective on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Finally, Raymond James Financial set a $48.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.77.

Fastenal Trading Down 1.6%

Shares of FAST stock opened at $43.26 on Friday. The stock has a market cap of $49.66 billion, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The firm’s 50 day moving average price is $45.36 and its two-hundred day moving average price is $43.64.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. On average, analysts anticipate that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal’s payout ratio is 84.21%.

Insiders Place Their Bets

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Fastenal Company 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.