Fastenal (NASDAQ:FAST - Get Free Report) EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Fastenal Price Performance
FAST opened at $77.90 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The stock has a fifty day simple moving average of $69.92 and a two-hundred day simple moving average of $68.03. Fastenal has a 12-month low of $56.41 and a 12-month high of $79.04.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business earned $0.52 EPS. Fastenal's quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts predict that Fastenal will post 2.04 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. Fastenal's dividend payout ratio is currently 77.61%.
Analysts Set New Price Targets
FAST has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. Bank of America began coverage on Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 target price on the stock. Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Stifel Nicolaus reissued a "buy" rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, Stephens raised 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $73.33.
Check Out Our Latest Stock Report on Fastenal
Institutional Trading of Fastenal
Several hedge funds and other institutional investors have recently made changes to their positions in FAST. Nomura Holdings Inc. bought a new position in shares of Fastenal during the fourth quarter valued at $747,000. CWM LLC increased its stake in Fastenal by 5.5% during the 1st quarter. CWM LLC now owns 20,726 shares of the company's stock valued at $1,599,000 after purchasing an additional 1,084 shares in the last quarter. Montecito Bank & Trust purchased a new position in Fastenal in the first quarter worth about $232,000. Czech National Bank lifted its stake in shares of Fastenal by 0.6% in the first quarter. Czech National Bank now owns 100,685 shares of the company's stock worth $7,767,000 after buying an additional 606 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Fastenal during the first quarter valued at approximately $1,105,000. Hedge funds and other institutional investors own 81.38% of the company's stock.
Fastenal Company Profile
(
Get Free Report)
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.
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