Atomi Financial Group Inc. Buys 3,320 Shares of Fastenal (NASDAQ:FAST)

Atomi Financial Group Inc. lifted its stake in Fastenal (NASDAQ:FAST) by 64.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,500 shares of the company’s stock after acquiring an additional 3,320 shares during the period. Atomi Financial Group Inc.’s holdings in Fastenal were worth $611,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAST. Ashton Thomas Securities LLC purchased a new stake in shares of Fastenal in the third quarter worth $25,000. Knuff & Co LLC purchased a new stake in shares of Fastenal in the third quarter worth $27,000. Moisand Fitzgerald Tamayo LLC raised its position in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Fastenal in the third quarter worth $36,000. Finally, CVA Family Office LLC raised its position in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after buying an additional 180 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Wolfe Research raised their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird raised their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $75.46 on Friday. The firm has a market cap of $43.23 billion, a P/E ratio of 37.54, a PEG ratio of 4.24 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. The company has a 50 day moving average of $77.44 and a 200 day moving average of $73.27. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1,842,560.16 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, research analysts expect that Fastenal will post 2.16 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. Fastenal’s payout ratio is presently 77.61%.

Insider Activity

In other news, Director Rita J. Heise sold 10,888 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,553,400. The trade was a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last 90 days. Company insiders own 0.41% of the company’s stock.

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.