Gary A. Polipnick Sells 2,634 Shares of Fastenal (FAST) Stock
Fastenal (NASDAQ:FAST) insider Gary A. Polipnick sold 2,634 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $53.45, for a total value of $140,787.30. Following the sale, the insider now directly owns 59,323 shares of the company’s stock, valued at approximately $3,170,814.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Fastenal (FAST) traded up $0.43 during trading on Tuesday, reaching $53.71. The company’s stock had a trading volume of 3,536,300 shares, compared to its average volume of 2,794,937. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. Fastenal has a 1 year low of $39.79 and a 1 year high of $55.35. The firm has a market capitalization of $15,440.00, a price-to-earnings ratio of 28.34, a P/E/G ratio of 1.97 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. sell-side analysts forecast that Fastenal will post 1.93 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its stake in shares of Fastenal by 44.9% in the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Fastenal in the third quarter valued at $114,000. Cable Hill Partners LLC acquired a new stake in shares of Fastenal in the third quarter valued at $126,000. Krilogy Financial LLC increased its stake in shares of Fastenal by 2.0% in the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares in the last quarter. Finally, QS Investors LLC increased its stake in shares of Fastenal by 1.6% in the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
Several equities research analysts have recently weighed in on FAST shares. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Monday, August 21st. Stifel Nicolaus reissued a “hold” rating and issued a $46.00 price objective on shares of Fastenal in a research report on Tuesday, August 22nd. BidaskClub cut Fastenal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price objective (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Finally, Stephens set a $54.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.13.
ILLEGAL ACTIVITY NOTICE: “Gary A. Polipnick Sells 2,634 Shares of Fastenal (FAST) Stock” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/gary-a-polipnick-sells-2634-shares-of-fastenal-fast-stock/1773169.html.
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.
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.