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

Atomi Financial Group Inc. lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 64.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,500 shares of the company’s stock after purchasing 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 institutional investors have also added to or reduced their stakes in the company. King Luther Capital Management Corp raised its stake in Fastenal by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after buying an additional 136 shares during the period. Verdence Capital Advisors LLC raised its stake in Fastenal by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock worth $545,000 after buying an additional 142 shares during the period. HB Wealth Management LLC raised its stake in Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after buying an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after buying an additional 143 shares during the period. Finally, Compass Ion Advisors LLC raised its stake in Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after buying an additional 146 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,660 shares of company stock valued at $6,211,126. Company insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $75.46 on Friday. The firm has a market cap of $43.23 billion, a PE ratio of 37.54, a P/E/G 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 business has a 50 day moving average of $77.44 and a 200-day moving average of $73.27. Fastenal has a 12-month low of $61.36 and a 12-month 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 for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same period last year, the company posted $0.46 earnings per share. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Fastenal will post 2.16 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.28%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is 77.61%.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of research reports. Stephens upped their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. 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 note on Thursday, October 10th. Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. UBS Group assumed coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.91.

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.