Fastenal (NASDAQ:FAST) Director Sarah Nielsen Acquires 1,000 Shares

Fastenal Company (NASDAQ:FAST) Director Sarah Nielsen bought 1,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Fastenal Stock Performance

Shares of FAST traded up $0.75 during mid-day trading on Friday, hitting $39.90. 1,948,312 shares of the company traded hands, compared to its average volume of 6,539,183. The stock has a market cap of $45.80 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 3.75 and a beta of 0.92. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The stock has a 50-day moving average price of $44.08 and a two-hundred day moving average price of $44.35.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $0.26 EPS. Fastenal’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given a $0.22 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. Fastenal’s dividend payout ratio is presently 82.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FAST. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Barclays lowered their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Northcoast Research began coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.32.

Hedge Funds Weigh In On Fastenal

Several institutional investors have recently bought and sold shares of FAST. Vanguard Group Inc. raised its position in shares of Fastenal by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after buying an additional 75,852,223 shares in the last quarter. State Street Corp raised its position in Fastenal by 99.6% during the second quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after purchasing an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Fastenal by 103.4% in 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 purchasing an additional 23,380,022 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after purchasing an additional 18,329,847 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Fastenal by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after purchasing an additional 16,308,254 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Company Profile

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.