Fastenal (NASDAQ:FAST) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.10.
Several analysts have recently weighed in on FAST shares. ValuEngine upgraded Fastenal from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Wells Fargo & Co downgraded Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Thursday. They noted that the move was a valuation call. Raymond James reiterated a “hold” rating on shares of Fastenal in a research report on Friday. Jefferies Financial Group reiterated a “hold” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Morgan Stanley lifted their price objective on Fastenal from $36.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th.
In other Fastenal news, VP Terry Modock Owen sold 1,250 shares of Fastenal stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.53, for a total value of $61,912.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Leland J. Hein sold 4,710 shares of Fastenal stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $44.35, for a total value of $208,888.50. Following the completion of the transaction, the vice president now owns 19,032 shares in the company, valued at approximately $844,069.20. The disclosure for this sale can be found here. Insiders sold 101,434 shares of company stock worth $4,682,700 in the last quarter. 0.57% of the stock is owned by insiders.
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Hedge funds have recently modified their holdings of the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of Fastenal by 155.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 81,160 shares of the company’s stock worth $2,536,000 after purchasing an additional 49,423 shares during the period. SG Americas Securities LLC lifted its holdings in Fastenal by 22.4% in the first quarter. SG Americas Securities LLC now owns 58,861 shares of the company’s stock valued at $1,839,000 after acquiring an additional 10,790 shares during the period. Forsta AP Fonden acquired a new position in Fastenal in the first quarter valued at approximately $2,413,000. KBC Group NV lifted its holdings in Fastenal by 25.0% in the first quarter. KBC Group NV now owns 71,345 shares of the company’s stock valued at $2,230,000 after acquiring an additional 14,283 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Fastenal by 7.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 110,655 shares of the company’s stock valued at $3,458,000 after acquiring an additional 7,808 shares during the period. Institutional investors and hedge funds own 77.18% of the company’s stock.
FAST traded down $0.75 during trading on Friday, reaching $46.27. The company had a trading volume of 5,448,868 shares, compared to its average volume of 2,841,030. The stock has a market cap of $26.54 billion, a P/E ratio of 31.91, a PEG ratio of 3.52 and a beta of 1.18. The business has a 50 day simple moving average of $47.30 and a 200-day simple moving average of $39.93. Fastenal has a 52 week low of $26.72 and a 52 week high of $49.86. The company has a quick ratio of 1.91, a current ratio of 4.13 and a debt-to-equity ratio of 0.15.
Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Fastenal will post 1.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were paid a $0.25 dividend. The ex-dividend date was Monday, July 27th. This represents a $1.00 annualized dividend and a yield of 2.16%. Fastenal’s dividend payout ratio (DPR) is presently 72.46%.
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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