Fastenal (NASDAQ:FAST) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its holdings in Fastenal (NASDAQ:FAST) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,621 shares of the company’s stock after selling 4,473 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fastenal were worth $979,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at $27,000. First Personal Financial Services acquired a new position in shares of Fastenal in the 3rd quarter valued at $36,000. R Squared Ltd purchased a new stake in Fastenal during the fourth quarter worth $68,000. Finally, Eastern Bank grew its position in Fastenal by 440.7% during the fourth quarter. Eastern Bank now owns 984 shares of the company’s stock valued at $71,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wolfe Research upped their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective on the stock. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $76.91.

Fastenal Price Performance

Fastenal stock opened at $74.78 on Tuesday. The company has a fifty day simple moving average of $74.15 and a 200-day simple moving average of $74.49. The firm has a market capitalization of $42.88 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.58 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. On average, equities analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

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.