Shares of Fastenal (NASDAQ:FAST) have earned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $60.86.
A number of brokerages recently weighed in on FAST. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Buckingham Research set a $65.00 target price on Fastenal and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Raymond James set a $78.00 target price on Fastenal and gave the company a “buy” rating in a report on Friday, April 12th.
Shares of NASDAQ:FAST traded up $0.15 during trading on Monday, reaching $64.32. The company had a trading volume of 82,568 shares, compared to its average volume of 2,305,309. Fastenal has a fifty-two week low of $47.37 and a fifty-two week high of $71.88. The firm has a market cap of $18.37 billion, a P/E ratio of 24.46, a PEG ratio of 1.41 and a beta of 1.20. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. Research analysts forecast that Fastenal will post 2.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s payout ratio is 65.40%.
In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total transaction of $588,640.52. Following the transaction, the chief accounting officer now owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Leland J. Hein sold 22,500 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the transaction, the insider now directly owns 30,111 shares in the company, valued at approximately $1,900,907.43. The disclosure for this sale can be found here. Insiders sold a total of 185,970 shares of company stock worth $12,905,432 in the last three months. Insiders own 0.56% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Securian Asset Management Inc grew its holdings in shares of Fastenal by 0.5% during the 1st quarter. Securian Asset Management Inc now owns 29,785 shares of the company’s stock valued at $1,915,000 after purchasing an additional 150 shares during the last quarter. Old North State Trust LLC grew its holdings in shares of Fastenal by 20.6% during the 1st quarter. Old North State Trust LLC now owns 966 shares of the company’s stock valued at $62,000 after purchasing an additional 165 shares during the last quarter. Park National Corp OH grew its holdings in shares of Fastenal by 2.9% during the 1st quarter. Park National Corp OH now owns 5,850 shares of the company’s stock valued at $376,000 after purchasing an additional 167 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock valued at $29,000 after buying an additional 180 shares during the period. Finally, Utah Retirement Systems boosted its position in Fastenal by 0.4% during the 4th quarter. Utah Retirement Systems now owns 53,540 shares of the company’s stock valued at $2,800,000 after buying an additional 200 shares during the period. 85.94% of the stock is currently owned by institutional investors.
Fastenal Company Profile
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.
Recommended Story: Bear Market – How and Why They Occur
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.