Fastenal Company $FAST Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. grew its stake in Fastenal Company (NASDAQ:FASTFree Report) by 33.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,067 shares of the company’s stock after buying an additional 4,979 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fastenal were worth $843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co raised its holdings in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank acquired a new position in Fastenal in the 2nd quarter worth about $27,000. Armstrong Advisory Group Inc. raised its holdings in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the period. AdvisorNet Financial Inc raised its holdings in Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the period. Finally, Clean Yield Group raised its holdings in Fastenal by 100.0% in the 2nd quarter. Clean Yield Group now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FAST shares. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. Robert W. Baird reduced their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Barclays set a $45.00 price target on Fastenal and gave the stock an “equal weight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $46.50.

View Our Latest Analysis on FAST

Insiders Place Their Bets

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

Fastenal Price Performance

FAST stock opened at $42.46 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.12. The business has a 50 day simple moving average of $47.83 and a 200-day simple moving average of $44.03. The firm has a market capitalization of $48.73 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FASTGet Free Report) last posted its quarterly 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 company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a $0.22 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is 82.24%.

About Fastenal

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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