Fastenal (NASDAQ:FAST) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its position in Fastenal (NASDAQ:FAST - Free Report) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,050 shares of the company's stock after selling 11,370 shares during the quarter. Atria Investments Inc's holdings in Fastenal were worth $4,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Aaron Wealth Advisors LLC purchased a new stake in Fastenal during the 3rd quarter worth about $310,000. Cetera Investment Advisers increased its holdings in Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company's stock worth $10,186,000 after purchasing an additional 110,027 shares during the period. M&G Plc acquired a new position in shares of Fastenal during the 1st quarter worth about $11,212,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fastenal by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company's stock worth $13,259,000 after acquiring an additional 11,436 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Fastenal by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 673,973 shares of the company's stock worth $51,990,000 after acquiring an additional 29,086 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Activity

In other news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $24,168,521. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,079 shares of company stock valued at $16,563,600 over the last quarter. Company insiders own 0.41% of the company's stock.

Fastenal Price Performance

FAST stock traded up $0.12 during midday trading on Wednesday, hitting $83.62. 2,336,746 shares of the stock were exchanged, compared to its average volume of 3,320,023. The stock's 50-day moving average price is $73.94 and its 200-day moving average price is $68.93. The stock has a market cap of $47.91 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 4.89 and a beta of 0.99. Fastenal has a fifty-two week low of $59.47 and a fifty-two week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. Fastenal's revenue was up 3.5% on a year-over-year basis. Research analysts predict that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. Fastenal's dividend payout ratio (DPR) is 77.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America assumed coverage on Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price objective for the company. UBS Group assumed coverage on Fastenal in a research report on Wednesday. They issued a "neutral" rating and a $88.00 target price for the company. Stephens upped their target price on Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. Stifel Nicolaus reissued a "buy" rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.80.

About Fastenal

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.