Atria Investments Inc Increases Stock Holdings in Fastenal Company $FAST

Atria Investments Inc lifted its position in Fastenal Company (NASDAQ:FAST) by 183.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,162 shares of the company’s stock after purchasing an additional 86,841 shares during the quarter. Atria Investments Inc’s holdings in Fastenal were worth $5,635,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in shares of Fastenal in the first quarter valued at about $36,000. Riverview Trust Co grew its holdings in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Fastenal in the first quarter valued at about $49,000. Private Wealth Management Group LLC grew its holdings in shares of Fastenal by 111.9% in the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Finally, Hilltop National Bank purchased a new stake in shares of Fastenal in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $41.15 on Friday. The firm has a market cap of $47.24 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 3.75 and a beta of 0.94. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $46.47 and its two-hundred day moving average is $44.34.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. On average, research analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Insider Activity

In related news, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the sale, the insider directly owned 11,880 shares in the company, valued at approximately $570,834. This trade represents a 80.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 90,178 shares of company stock worth $4,336,603 in the last ninety days. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FAST shares. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Robert W. Baird reduced their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.50.

Fastenal Company 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.