Fastenal (NASDAQ:FAST) CEO Daniel L. Florness sold 40,000 shares of Fastenal stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $36.00, for a total value of $1,440,000.00. Following the sale, the chief executive officer now owns 239,690 shares of the company’s stock, valued at $8,628,840. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of NASDAQ:FAST traded down $0.07 during trading on Friday, hitting $37.07. 3,190,200 shares of the stock were exchanged, compared to its average volume of 4,746,204. The company’s fifty day simple moving average is $34.55 and its 200-day simple moving average is $37.70. Fastenal has a 1-year low of $24.60 and a 1-year high of $37.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.34 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Fastenal will post 1.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.37%. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
Several research analysts have commented on the company. Wolfe Research downgraded Fastenal from a “market perform” rating to an “underperform” rating in a research report on Monday, October 14th. Stephens downgraded Fastenal from an “overweight” rating to an “equal” rating and lifted their price target for the stock from $36.00 to $37.00 in a research report on Monday, October 14th. Cleveland Research reaffirmed a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. Robert W. Baird lifted their price target on Fastenal from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Edward Jones lowered Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Fastenal currently has a consensus rating of “Hold” and an average price target of $34.55.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Fastenal by 103.6% in the 2nd quarter. Vanguard Group Inc. now owns 67,317,971 shares of the company’s stock valued at $2,193,894,000 after purchasing an additional 34,249,134 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Fastenal by 114.3% in the 2nd quarter. BlackRock Inc. now owns 43,456,381 shares of the company’s stock valued at $1,416,246,000 after purchasing an additional 23,182,045 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fastenal by 92.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,430,053 shares of the company’s stock valued at $1,024,304,000 after purchasing an additional 15,082,989 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Fastenal by 241.9% in the 2nd quarter. Invesco Ltd. now owns 13,737,816 shares of the company’s stock valued at $447,715,000 after purchasing an additional 9,719,267 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its holdings in shares of Fastenal by 94.5% in the 2nd quarter. Bares Capital Management Inc. now owns 8,677,098 shares of the company’s stock valued at $282,787,000 after purchasing an additional 4,214,984 shares in the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.
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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