Fastenal (NASDAQ:FAST) insider Terry Modock Owen sold 30,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Fastenal (NASDAQ:FAST) traded up $2.70 during trading hours on Monday, hitting $54.88. The company had a trading volume of 5,335,737 shares, compared to its average volume of 2,809,482. The stock has a market capitalization of $15,830.00, a PE ratio of 27.75, a P/E/G ratio of 1.93 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. Fastenal has a 12-month low of $39.79 and a 12-month high of $55.35.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. research analysts predict that Fastenal will post 1.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.33%. The ex-dividend date was Tuesday, October 24th. Fastenal’s dividend payout ratio is presently 68.09%.
A number of research analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $51.00 target price (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $52.00 price target on shares of Fastenal in a research report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a research report on Tuesday, August 22nd. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Finally, Stephens set a $54.00 price target on Fastenal and gave the stock a “buy” rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Fastenal has a consensus rating of “Buy” and an average target price of $50.80.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Fastenal by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after purchasing an additional 943,262 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Fastenal by 1.9% in the 2nd quarter. BlackRock Inc. now owns 17,796,450 shares of the company’s stock valued at $774,680,000 after purchasing an additional 336,893 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Fastenal by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares during the last quarter. Bares Capital Management Inc. lifted its stake in shares of Fastenal by 2.0% in the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock valued at $166,956,000 after purchasing an additional 70,166 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Fastenal by 58.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock valued at $131,700,000 after purchasing an additional 1,066,773 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.
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Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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