Analysts Set Fastenal Company (NASDAQ:FAST) PT at $48.83

Fastenal Company (NASDAQ:FAST) has received an average rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $48.8333.

A number of research firms have commented on FAST. Raymond James Financial set a $48.00 price target on Fastenal in a research note on Thursday, March 5th. Morgan Stanley restated a “positive” rating and set a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Monday, December 15th. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Finally, UBS Group reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director 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 this link. Also, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FAST. Vanguard Group Inc. increased its holdings in Fastenal by 103.5% in the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after buying an additional 75,852,223 shares during the period. State Street Corp lifted its stake in Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after acquiring an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Fastenal by 103.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after acquiring an additional 23,380,022 shares during the period. Norges Bank purchased a new stake in shares of Fastenal in the 4th quarter valued at $646,046,000. Finally, Invesco Ltd. increased its stake in shares of Fastenal by 141.9% in the second quarter. Invesco Ltd. now owns 15,973,759 shares of the company’s stock worth $670,898,000 after acquiring an additional 9,370,909 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Price Performance

NASDAQ FAST opened at $45.08 on Monday. The firm’s fifty day simple moving average is $45.18 and its two-hundred day simple moving average is $44.05. The firm has a market capitalization of $51.77 billion, a P/E ratio of 40.98, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal has a 12-month low of $35.31 and a 12-month high of $50.63.

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

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were paid a dividend of $0.24 per share. The ex-dividend date 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 dividend yield of 2.1%. Fastenal’s payout ratio is presently 87.27%.

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.