Avior Wealth Management LLC Sells 399 Shares of Fastenal (NASDAQ:FAST)

Avior Wealth Management LLC reduced its stake in Fastenal (NASDAQ:FAST) by 22.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,382 shares of the company’s stock after selling 399 shares during the period. Avior Wealth Management LLC’s holdings in Fastenal were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FAST. PNC Financial Services Group Inc. increased its stake in Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock valued at $26,373,000 after purchasing an additional 6,488 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Fastenal in the third quarter worth approximately $9,132,000. Prospera Financial Services Inc increased its position in shares of Fastenal by 9.6% during the third quarter. Prospera Financial Services Inc now owns 3,584 shares of the company’s stock valued at $256,000 after acquiring an additional 314 shares in the last quarter. Knuff & Co LLC purchased a new position in Fastenal in the 3rd quarter worth approximately $27,000. Finally, Pathstone Holdings LLC lifted its position in Fastenal by 11.1% in the 3rd quarter. Pathstone Holdings LLC now owns 110,131 shares of the company’s stock valued at $7,866,000 after acquiring an additional 10,997 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America assumed coverage on Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.80.

Insider Transactions at Fastenal

In other 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 value of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now 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. Over the last three months, insiders have sold 208,289 shares of company stock valued at $16,123,438. Corporate insiders own 0.41% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $83.08 on Friday. The firm’s fifty day simple moving average is $76.26 and its two-hundred day simple moving average is $69.74. Fastenal has a 12-month low of $59.47 and a 12-month high of $84.88. The firm has a market capitalization of $47.60 billion, a P/E ratio of 41.33, a P/E/G ratio of 4.83 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.88%. Fastenal’s payout ratio is currently 77.61%.

Fastenal 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.