Fastenal (NASDAQ:FAST) Director Rita J. Heise Sells 10,888 Shares

Fastenal (NASDAQ:FAST) Director Rita J. Heise sold 10,888 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $1,553,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Fastenal Stock Down 0.2 %

Shares of FAST stock opened at $78.18 on Friday. Fastenal has a twelve month low of $58.04 and a twelve month high of $79.04. The stock has a market cap of $44.79 billion, a P/E ratio of 38.90, a P/E/G ratio of 4.59 and a beta of 1.01. The stock has a 50 day moving average of $71.74 and a 200 day moving average of $68.18. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FAST shares. Bank of America initiated coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Jefferies Financial Group decreased their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.33.

Institutional Investors Weigh In On Fastenal

Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Fastenal by 4.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,594,140 shares of the company’s stock worth $122,972,000 after acquiring an additional 60,689 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Fastenal by 8.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 15,439 shares of the company’s stock worth $1,191,000 after purchasing an additional 1,240 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Fastenal by 6.9% in the first quarter. Van ECK Associates Corp now owns 108,726 shares of the company’s stock valued at $8,387,000 after buying an additional 7,013 shares during the last quarter. Norden Group LLC lifted its stake in shares of Fastenal by 57.9% in the first quarter. Norden Group LLC now owns 7,399 shares of the company’s stock worth $571,000 after buying an additional 2,712 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Fastenal by 0.3% during the first quarter. Retirement Systems of Alabama now owns 126,299 shares of the company’s stock worth $9,743,000 after acquiring an additional 366 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.