Fastenal (FAST) Insider Charles S. Miller Sells 26,250 Shares
Fastenal (NASDAQ:FAST) insider Charles S. Miller sold 26,250 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares in the company, valued at $1,483,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Fastenal (FAST) opened at $56.47 on Tuesday. The company has a market capitalization of $16,230.00, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.67 and a beta of 1.09. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. Fastenal has a twelve month low of $39.79 and a twelve month high of $57.81.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. Fastenal’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. equities analysts expect that Fastenal will post 2.46 EPS for the current fiscal year.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price objective (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. Finally, Stephens increased their price objective on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $53.29.
Several hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Fastenal by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock worth $739,306,000 after purchasing an additional 1,297,185 shares during the last quarter. Bares Capital Management Inc. grew its holdings in shares of Fastenal by 2.0% during the third quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock worth $166,956,000 after purchasing an additional 70,166 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Fastenal by 58.5% during the third quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock worth $131,700,000 after purchasing an additional 1,066,773 shares during the last quarter. Mcdonald Capital Investors Inc. CA grew its holdings in shares of Fastenal by 4.7% during the third quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock worth $104,168,000 after purchasing an additional 103,147 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Fastenal by 60.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,076,097 shares of the company’s stock worth $90,372,000 after purchasing an additional 781,071 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.
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Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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