Insider Selling: Fastenal (NASDAQ:FAST) Director Sells $147,000.00 in Stock

Fastenal Company (NASDAQ:FAST) Director Michael Ancius sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Fastenal Stock Performance

Shares of FAST traded down $0.28 during mid-day trading on Wednesday, hitting $47.82. 10,038,614 shares of the company traded hands, compared to its average volume of 8,116,919. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The stock has a 50-day moving average price of $46.09 and a two-hundred day moving average price of $45.48. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63. The stock has a market cap of $54.87 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 2.98 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Fastenal Company will post 1.25 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 81.36%.

Analyst Ratings Changes

A number of research firms recently commented on FAST. Morgan Stanley upped their price objective on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research note on Thursday, July 9th. Robert W. Baird lowered their price objective on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Bank of America boosted their target price on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.83.

Institutional Investors Weigh In On Fastenal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Fastenal in the fourth quarter worth $496,000. Integrated Wealth Concepts LLC boosted its holdings in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the period. Quantbot Technologies LP bought a new position in Fastenal in the 2nd quarter worth $158,000. Jump Financial LLC purchased a new stake in Fastenal in the 2nd quarter worth $2,199,000. Finally, Cary Street Partners Financial LLC increased its stake in Fastenal by 111.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after buying an additional 1,771 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.