Fastenal (NASDAQ:FAST - Get Free Report) EVP William Joseph Drazkowski sold 15,000 shares of Fastenal stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the sale, the executive vice president now directly owns 5,997 shares of the company's stock, valued at $487,616.07. This trade represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Fastenal Stock Up 0.4 %
Shares of NASDAQ:FAST opened at $81.65 on Wednesday. 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 market cap of $46.82 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The firm's 50-day simple moving average is $75.85 and its 200-day simple moving average is $76.47.
Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the firm earned $0.52 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Fastenal will post 2.15 earnings per share for the current year.
Fastenal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, April 25th. This is a boost from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.16%. Fastenal's dividend payout ratio is 87.56%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FAST. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stephens boosted their price objective on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their price target on shares of Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday. Wolfe Research upgraded shares of Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.10.
Read Our Latest Research Report on FAST
Institutional Trading of Fastenal
A number of institutional investors have recently added to or reduced their stakes in the stock. Sound Financial Strategies Group LLC purchased a new stake in Fastenal during the fourth quarter worth $873,000. Matrix Trust Co acquired a new position in shares of Fastenal during the 4th quarter worth $1,756,000. Franklin Resources Inc. boosted its position in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after buying an additional 165,423 shares in the last quarter. Czech National Bank grew its stake in Fastenal by 6.5% in the 4th quarter. Czech National Bank now owns 124,213 shares of the company's stock valued at $8,932,000 after acquiring an additional 7,559 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. increased its holdings in Fastenal by 29.9% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company's stock valued at $2,615,000 after acquiring an additional 8,380 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.
About Fastenal
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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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