Fastenal (NASDAQ:FAST) Director Michael John Dolan sold 5,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $900,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NASDAQ FAST traded down $0.57 during trading on Thursday, hitting $56.70. 119,642 shares of the company traded hands, compared to its average volume of 3,525,427. Fastenal has a 12 month low of $47.37 and a 12 month high of $61.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.35 and a quick ratio of 2.48. The firm has a market cap of $16.44 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Fastenal will post 2.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th were paid a $0.40 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. Fastenal’s payout ratio is presently 82.90%.
Several analysts recently issued reports on the company. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. Longbow Research lowered Fastenal from a “buy” rating to a “neutral” rating in a report on Tuesday. ValuEngine lowered Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Buckingham Research initiated coverage on Fastenal in a report on Monday, October 22nd. They set a “neutral” rating and a $50.00 target price on the stock. Finally, Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $57.00.
Several institutional investors have recently bought and sold shares of FAST. Delta Asset Management LLC TN increased its stake in shares of Fastenal by 3,540.7% in the third quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock worth $182,000 after purchasing an additional 3,045 shares during the period. Canton Hathaway LLC bought a new position in shares of Fastenal in the third quarter worth about $186,000. Twin Tree Management LP bought a new position in shares of Fastenal in the second quarter worth about $203,000. Meyer Handelman Co. bought a new position in shares of Fastenal in the third quarter worth about $203,000. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Fastenal in the third quarter worth about $214,000. Institutional investors and hedge funds own 85.23% of the company’s stock.
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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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