Fastenal (NASDAQ:FAST) had its target price decreased by Buckingham Research from $31.00 to $29.00 in a research report report published on Friday, BenzingaRatingsTable reports. Buckingham Research currently has a neutral rating on the stock.
A number of other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. William Blair reissued a market perform rating on shares of Luminex in a report on Tuesday, May 7th. Morgan Stanley set a $207.00 target price on shares of Alibaba Group and gave the stock a buy rating in a report on Friday. Zacks Investment Research raised shares of Hope Bancorp from a sell rating to a hold rating in a report on Wednesday, April 17th. Finally, BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Fastenal currently has an average rating of Hold and an average price target of $31.31.
Shares of NASDAQ FAST opened at $30.68 on Friday. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $31.78. Fastenal has a 52-week low of $24.00 and a 52-week high of $35.94. The company has a market capitalization of $17.71 billion, a PE ratio of 23.01, a P/E/G ratio of 1.38 and a beta of 1.25.
Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business earned $0.37 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Fastenal will post 1.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.87%. Fastenal’s dividend payout ratio (DPR) is presently 65.15%.
In related news, Director Willard D. Oberton sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $70.85, for a total transaction of $1,771,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas J. Lundquist sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $70.48, for a total value of $2,643,000.00. Following the sale, the insider now directly owns 253,500 shares in the company, valued at approximately $17,866,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,470 shares of company stock worth $11,485,007. Corporate insiders own 0.62% of the company’s stock.
A number of large investors have recently made changes to their positions in FAST. Norges Bank bought a new stake in Fastenal during the fourth quarter worth approximately $135,756,000. Riverbridge Partners LLC raised its holdings in Fastenal by 91.0% during the second quarter. Riverbridge Partners LLC now owns 3,053,420 shares of the company’s stock worth $99,511,000 after purchasing an additional 1,454,579 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings 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 worth $65,180,000 after purchasing an additional 1,000,000 shares in the last quarter. Marathon Asset Management LLP raised its holdings in Fastenal by 112.5% during the second quarter. Marathon Asset Management LLP now owns 1,751,542 shares of the company’s stock worth $57,081,000 after purchasing an additional 927,152 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC raised its holdings in Fastenal by 112.2% during the second quarter. Douglass Winthrop Advisors LLC now owns 1,421,607 shares of the company’s stock worth $46,330,000 after purchasing an additional 751,796 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other 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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