Fastenal (NASDAQ:FAST) Director Reyne Wisecup Sells 36,920 Shares

Fastenal Company (NASDAQ:FAST) Director Reyne Wisecup sold 36,920 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. The trade was a 48.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Fastenal Trading Down 1.8%

FAST stock traded down $0.84 during midday trading on Friday, reaching $46.46. 8,186,584 shares of the company traded hands, compared to its average volume of 9,080,368. The firm has a market capitalization of $53.35 billion, a price-to-earnings ratio of 42.24, a P/E/G ratio of 2.96 and a beta of 0.88. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The business has a 50 day moving average of $44.26 and a 200-day moving average of $44.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. Fastenal’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s payout ratio is 87.27%.

Hedge Funds Weigh In On Fastenal

Institutional investors have recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in Fastenal in the 4th quarter worth $25,000. Palladiem LLC purchased a new stake in Fastenal during the 4th quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the second quarter valued at about $27,000. MV Capital Management Inc. purchased a new position in shares of Fastenal in the fourth quarter worth about $29,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 474 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FAST. Raymond James Financial set a $48.00 price target on Fastenal in a research note on Thursday. UBS Group reiterated a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Barclays boosted their target price on shares of Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

About Fastenal

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.