Fastenal (NASDAQ:FAST) Director Sells $845,670.96 in Stock

Fastenal (NASDAQ:FAST) Director Rita J. Heise sold 10,888 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,553,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Fastenal Trading Down 0.2 %

Fastenal stock traded down $0.16 during midday trading on Thursday, reaching $78.18. The stock had a trading volume of 4,002,995 shares, compared to its average volume of 3,333,780. Fastenal has a twelve month low of $58.04 and a twelve month high of $79.04. The stock has a market capitalization of $44.76 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 4.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock’s 50-day simple moving average is $71.53 and its 200 day simple moving average is $68.11.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced 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. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Analysts Set New Price Targets

Several research firms have weighed in on FAST. Jefferies Financial Group dropped their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stephens lifted their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.33.

Institutional Investors Weigh In On Fastenal

A number of large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Fastenal by 4.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,594,140 shares of the company’s stock worth $122,972,000 after purchasing an additional 60,689 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Fastenal by 8.7% in the first quarter. First Trust Direct Indexing L.P. now owns 15,439 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,240 shares in the last quarter. Van ECK Associates Corp raised its holdings in Fastenal by 6.9% in the first quarter. Van ECK Associates Corp now owns 108,726 shares of the company’s stock valued at $8,387,000 after acquiring an additional 7,013 shares in the last quarter. Norden Group LLC raised its holdings in Fastenal by 57.9% in the first quarter. Norden Group LLC now owns 7,399 shares of the company’s stock valued at $571,000 after acquiring an additional 2,712 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Fastenal by 0.3% in the first quarter. Retirement Systems of Alabama now owns 126,299 shares of the company’s stock valued at $9,743,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Company 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.