Atria Wealth Solutions Inc. Lowers Stock Holdings in Fastenal (NASDAQ:FAST)

Atria Wealth Solutions Inc. reduced its holdings in Fastenal (NASDAQ:FASTFree Report) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,427 shares of the company’s stock after selling 313 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fastenal were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mission Wealth Management LP acquired a new position in Fastenal in the second quarter valued at $213,000. Ontario Teachers Pension Plan Board acquired a new stake in Fastenal during the second quarter worth about $447,000. National Bank of Canada FI increased its stake in Fastenal by 26.8% during the third quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock worth $14,401,000 after acquiring an additional 55,491 shares during the last quarter. KBC Group NV increased its stake in Fastenal by 108.1% during the second quarter. KBC Group NV now owns 403,277 shares of the company’s stock worth $23,789,000 after acquiring an additional 209,475 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Fastenal by 66.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,105 shares of the company’s stock worth $1,776,000 after acquiring an additional 12,024 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 19,500 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $60.02, for a total value of $1,170,390.00. Following the completion of the transaction, the chief executive officer now owns 284,410 shares of the company’s stock, valued at $17,070,288.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $60.02, for a total value of $1,170,390.00. Following the sale, the chief executive officer now owns 284,410 shares in the company, valued at approximately $17,070,288.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,120 shares of company stock valued at $8,118,031. Insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FAST. Stifel Nicolaus upped their price target on Fastenal from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Robert W. Baird upped their price target on Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.17.

View Our Latest Report on FAST

Fastenal Price Performance

Shares of NASDAQ FAST opened at $70.01 on Tuesday. Fastenal has a 1-year low of $50.30 and a 1-year high of $70.95. The business has a 50-day moving average of $65.70 and a 200-day moving average of $60.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.57 and a quick ratio of 2.27. The company has a market capitalization of $40.06 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 3.62 and a beta of 1.05.

Fastenal (NASDAQ:FASTGet Free Report) last issued its earnings results on Thursday, January 18th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st will be given a $0.39 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. Fastenal’s dividend payout ratio is presently 77.23%.

Fastenal Company Profile

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Further Reading

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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