Fastenal Company $FAST Shares Sold by Atria Investments Inc

Key Points

• Atria Investments reduced its Fastenal stake by 18.1% in the fourth quarter, selling 32,465 shares and ending with 147,208 shares worth about $5.9 million.
• Insider selling also occurred, with Director Reyne K. Wisecup selling 36,920 shares at an average price of $47.34, trimming the position by 48%.
• Fastenal recently reported quarterly EPS of $0.30 in line with estimates, while revenue rose 12.4% year over year to $2.20 billion; the company also declared a quarterly dividend of $0.24 per share.

Atria Investments Inc cut its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,208 shares of the company's stock after selling 32,465 shares during the quarter. Atria Investments Inc's holdings in Fastenal were worth $5,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Fastenal by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company's stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. National Pension Service grew its stake in Fastenal by 3.6% in the 3rd quarter. National Pension Service now owns 1,558,579 shares of the company's stock valued at $76,433,000 after acquiring an additional 53,888 shares during the last quarter. Franklin Resources Inc. grew its stake in Fastenal by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company's stock valued at $362,282,000 after acquiring an additional 90,095 shares during the last quarter. BlueStem Wealth Partners LLC acquired a new stake in Fastenal in the 3rd quarter valued at about $634,000. Finally, Arjuna Capital acquired a new stake in Fastenal in the 3rd quarter valued at about $3,999,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the sale, the director directly owned 40,000 shares of the company's stock, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FAST shares. Morgan Stanley reissued a "positive" rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Raymond James Financial set a $48.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Robert W. Baird lowered their price objective on shares of Fastenal from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. Finally, Sanford C. Bernstein reissued an "underperform" rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Fastenal has an average rating of "Hold" and an average price target of $49.77.

Fastenal Price Performance

Fastenal stock opened at $43.26 on Friday. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $50.63. The stock has a market capitalization of $49.66 billion, a P/E ratio of 37.95, a P/E/G ratio of 2.80 and a beta of 0.75. The firm's 50-day moving average is $45.36 and its two-hundred day moving average is $43.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period last year, the company earned $0.52 EPS. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts predict that Fastenal Company will post 1.23 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal's dividend payout ratio (DPR) is currently 84.21%.

About Fastenal

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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