Fastenal (NASDAQ:FAST - Get Free Report) CEO Daniel L. Florness sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $82.12, for a total value of $4,106,000.00. Following the transaction, the chief executive officer now owns 282,518 shares of the company's stock, valued at $23,200,378.16. This trade represents a 15.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Fastenal Price Performance
Fastenal stock opened at $80.11 on Tuesday. The business's 50-day simple moving average is $77.02 and its 200 day simple moving average is $77.12. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 39.86, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.
Fastenal shares are going to split on the morning of Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly minted shares will be issued to shareholders after the market closes on Wednesday, May 21st.
Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. As a group, research analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.
Fastenal Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.44 dividend. This is a boost from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.76 annualized dividend and a yield of 2.20%. Fastenal's dividend payout ratio (DPR) is currently 87.56%.
Hedge Funds Weigh In On Fastenal
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sound Financial Strategies Group LLC bought a new position in Fastenal during the fourth quarter worth about $873,000. Matrix Trust Co bought a new position in Fastenal during the fourth quarter worth about $1,756,000. Franklin Resources Inc. boosted its holdings in Fastenal by 3.8% during the third 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 during the last quarter. Czech National Bank boosted its holdings in Fastenal by 6.5% during the fourth quarter. Czech National Bank now owns 124,213 shares of the company's stock worth $8,932,000 after buying an additional 7,559 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its holdings in Fastenal by 29.9% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company's stock worth $2,615,000 after buying an additional 8,380 shares during the last quarter. Institutional investors own 81.38% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on FAST shares. Stifel Nicolaus dropped their price objective on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Robert W. Baird increased their price objective on Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, April 14th. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, Stephens increased their price objective on Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and a consensus target price of $79.10.
Check Out Our Latest Stock Analysis on Fastenal
About Fastenal
(
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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