Daniel L. Florness Sells 7,500 Shares of Fastenal (NASDAQ:FAST) Stock

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Fastenal (NASDAQ:FAST) CEO Daniel L. Florness sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $38.20, for a total transaction of $286,500.00. Following the completion of the transaction, the chief executive officer now directly owns 207,190 shares of the company’s stock, valued at $7,914,658. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NASDAQ FAST opened at $38.32 on Friday. Fastenal has a 1 year low of $28.38 and a 1 year high of $38.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.51 and a quick ratio of 2.00. The stock has a market capitalization of $22.00 billion, a PE ratio of 27.77, a P/E/G ratio of 1.89 and a beta of 1.24. The company’s 50 day simple moving average is $36.55 and its two-hundred day simple moving average is $34.41.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Fastenal had a net margin of 14.83% and a return on equity of 31.16%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.61%. Fastenal’s dividend payout ratio is currently 72.46%.

FAST has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Fastenal in a report on Friday, November 22nd. They issued a “buy” rating and a $377.00 price objective for the company. Buckingham Research increased their target price on shares of Fastenal from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Edward Jones cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on shares of Fastenal from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average target price of $74.11.

Institutional investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. raised its position in shares of Fastenal by 72.1% during the 4th quarter. TCI Wealth Advisors Inc. now owns 678 shares of the company’s stock valued at $25,000 after buying an additional 284 shares in the last quarter. Citizens Financial Group Inc RI raised its position in shares of Fastenal by 265.3% during the 4th quarter. Citizens Financial Group Inc RI now owns 716 shares of the company’s stock valued at $26,000 after buying an additional 520 shares in the last quarter. Security National Trust Co. purchased a new stake in shares of Fastenal during the 4th quarter valued at $31,000. Executive Wealth Management LLC raised its position in shares of Fastenal by 120.7% during the 3rd quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $40,000 after buying an additional 683 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Fastenal by 19.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock valued at $59,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 84.39% of the company’s stock.

Fastenal Company Profile

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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Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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