Fastenal (NASDAQ:FAST) Insider Sells $1,270,509.30 in Stock

Fastenal (NASDAQ:FAST) insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the transaction, the insider now owns 5,997 shares of the company’s stock, valued at $465,667.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $77.90 on Monday. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The firm has a 50 day moving average of $69.92 and a 200 day moving average of $67.91. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

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

Institutional Investors Weigh In On Fastenal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Valley Advisors LLC purchased a new position in Fastenal in the second quarter worth $28,000. MCF Advisors LLC grew its stake in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Fastenal during the 2nd quarter valued at about $32,000. Crewe Advisors LLC raised its stake in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FAST shares. Morgan Stanley boosted their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Robert W. Baird lifted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.33.

About Fastenal

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.