Investors Purchase Large Volume of Call Options on Fastenal (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) saw some unusual options trading on Wednesday. Traders bought 13,625 call options on the company. This represents an increase of approximately 1,200% compared to the typical volume of 1,048 call options.

FAST has been the subject of a number of recent analyst reports. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Buckingham Research set a $31.00 price objective on Fastenal and gave the stock a “neutral” rating in a research note on Friday, June 14th. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley lowered GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $23.00 to $18.00 in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $31.11.

In other Fastenal news, insider Nicholas J. Lundquist sold 37,500 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $70.48, for a total transaction of $2,643,000.00. Following the completion of the sale, the insider now owns 253,500 shares of the company’s stock, valued at $17,866,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $71.38, for a total value of $713,800.00. Following the sale, the chief accounting officer now directly owns 10,300 shares of the company’s stock, valued at approximately $735,214. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,470 shares of company stock valued at $11,485,007. 0.62% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. boosted its stake in Fastenal by 143.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 11,076 shares of the company’s stock valued at $361,000 after buying an additional 6,534 shares during the last quarter. Peoples Financial Services CORP. boosted its stake in Fastenal by 97.9% during the second quarter. Peoples Financial Services CORP. now owns 81,700 shares of the company’s stock valued at $2,662,000 after buying an additional 40,425 shares during the last quarter. Spinnaker Trust boosted its stake in Fastenal by 100.0% during the second quarter. Spinnaker Trust now owns 8,586 shares of the company’s stock valued at $279,000 after buying an additional 4,294 shares during the last quarter. Webster Bank N. A. boosted its stake in Fastenal by 99.2% during the second quarter. Webster Bank N. A. now owns 133,603 shares of the company’s stock valued at $4,354,000 after buying an additional 66,531 shares during the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in Fastenal by 100.0% during the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 2,000,000 shares of the company’s stock valued at $65,180,000 after buying an additional 1,000,000 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

NASDAQ FAST opened at $30.36 on Friday. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.97 and a current ratio of 4.31. The stock has a 50-day simple moving average of $31.79. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.37 earnings per share. Fastenal’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Fastenal will post 1.41 earnings per share for the current fiscal year.

About Fastenal

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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