FAST has been the topic of several other reports. Zacks Investment Research upgraded shares of Fastenal from a sell rating to a hold rating in a research report on Wednesday, January 16th. ValuEngine upgraded shares of Fastenal from a hold rating to a buy rating in a research report on Thursday, January 17th. Buckingham Research boosted their price target on shares of Fastenal from $57.00 to $60.00 and gave the company a neutral rating in a research report on Monday, April 8th. Morgan Stanley boosted their price target on shares of Fastenal from $55.00 to $63.00 and gave the company an equal weight rating in a research report on Tuesday, April 16th. Finally, Argus restated a positive rating on shares of Fastenal in a research report on Friday, January 18th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $61.70.
Shares of Fastenal stock traded down $0.37 during trading on Thursday, hitting $65.64. 2,373,721 shares of the company’s stock traded hands, compared to its average volume of 2,362,900. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.97 and a current ratio of 4.31. Fastenal has a twelve month low of $47.37 and a twelve month high of $71.88. The firm has a market cap of $18.90 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20.
Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.61 EPS. On average, equities analysts forecast that Fastenal will post 2.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be given a $0.43 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.62%. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.
In other Fastenal news, insider John Lewis Soderberg sold 30,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $70.62, for a total value of $2,118,600.00. Following the completion of the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at $2,118,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total transaction of $713,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,300 shares of the company’s stock, valued at $735,214. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,887 shares of company stock worth $15,902,479. Company insiders own 0.56% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Advisors LLC boosted its position in Fastenal by 1.7% during the third quarter. Teachers Advisors LLC now owns 876,040 shares of the company’s stock worth $50,828,000 after purchasing an additional 15,056 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Fastenal by 6.1% in the third quarter. Nordea Investment Management AB now owns 1,082,870 shares of the company’s stock valued at $62,830,000 after acquiring an additional 62,287 shares in the last quarter. Standard Life Aberdeen plc lifted its position in shares of Fastenal by 29.2% in the third quarter. Standard Life Aberdeen plc now owns 111,518 shares of the company’s stock valued at $6,471,000 after acquiring an additional 25,221 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Fastenal by 0.8% in the third quarter. Legal & General Group Plc now owns 1,444,214 shares of the company’s stock valued at $83,786,000 after acquiring an additional 11,185 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares in the last quarter. 86.18% of the stock is owned by institutional investors.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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