A number of other analysts have also recently commented on FAST. Argus increased their price target on shares of Fastenal to $41.00 and gave the company a buy rating in a research note on Tuesday, October 15th. Stephens lowered shares of Fastenal from an overweight rating to an equal rating and boosted their price objective for the stock from $36.00 to $37.00 in a research note on Monday, October 14th. Robert W. Baird upped their target price on shares of Fastenal from $34.00 to $37.00 and gave the company a neutral rating in a report on Monday, October 14th. Jefferies Financial Group started coverage on shares of Fastenal in a research note on Friday, November 22nd. They issued a buy rating and a $377.00 target price for the company. Finally, Edward Jones cut Fastenal from a buy rating to a hold rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $73.44.
NASDAQ:FAST opened at $35.94 on Wednesday. Fastenal has a twelve month low of $24.60 and a twelve month high of $37.91. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24. The company has a quick ratio of 2.06, a current ratio of 4.51 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $36.29 and its two-hundred day moving average price is $33.34.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Fastenal will post 1.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. Fastenal’s dividend payout ratio (DPR) is 66.67%.
In other Fastenal news, insider William Joseph Drazkowski sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $36.77, for a total transaction of $612,808.82. Following the completion of the sale, the insider now directly owns 19,456 shares in the company, valued at $715,397.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.50, for a total transaction of $188,102.50. Following the sale, the chief accounting officer now owns 10,382 shares of the company’s stock, valued at $347,797. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,985 shares of company stock worth $7,167,824. Corporate insiders own 0.62% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Fastenal by 103.6% during the second quarter. Vanguard Group Inc. now owns 67,317,971 shares of the company’s stock worth $2,193,894,000 after purchasing an additional 34,249,134 shares during the period. BlackRock Inc. grew its position in Fastenal by 114.3% during the second quarter. BlackRock Inc. now owns 43,456,381 shares of the company’s stock worth $1,416,246,000 after buying an additional 23,182,045 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Fastenal by 92.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,430,053 shares of the company’s stock worth $1,024,304,000 after acquiring an additional 15,082,989 shares during the period. Invesco Ltd. increased its stake in Fastenal by 241.9% during the 2nd quarter. Invesco Ltd. now owns 13,737,816 shares of the company’s stock worth $447,715,000 after acquiring an additional 9,719,267 shares during the period. Finally, Bares Capital Management Inc. raised its holdings in Fastenal by 94.5% in the 2nd quarter. Bares Capital Management Inc. now owns 8,677,098 shares of the company’s stock valued at $282,787,000 after acquiring an additional 4,214,984 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.
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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