Leland J. Hein Sells 19,929 Shares of Fastenal (FAST) Stock
Fastenal (NASDAQ:FAST) insider Leland J. Hein sold 19,929 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $70.37, for a total transaction of $1,402,403.73. Following the transaction, the insider now owns 14,931 shares in the company, valued at approximately $1,050,694.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ:FAST traded down $0.95 during mid-day trading on Monday, hitting $70.13. 109,908 shares of the company’s stock were exchanged, compared to its average volume of 2,040,628. Fastenal has a one year low of $47.37 and a one year high of $71.11. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. The firm has a market capitalization of $20.30 billion, a P/E ratio of 26.70, a PEG ratio of 1.56 and a beta of 1.17.
Fastenal’s stock is scheduled to split on the morning of Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, May 21st.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, April 23rd. Fastenal’s payout ratio is currently 65.40%.
FAST has been the topic of several research analyst reports. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “sell” rating in a research report on Thursday, January 3rd. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Northcoast Research cut shares of Fastenal from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Buckingham Research set a $51.00 price target on shares of Fastenal and gave the company a “hold” rating in a research report on Friday, January 11th. Finally, Raymond James set a $78.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, April 12th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.70.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc. now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after buying an additional 311,099 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after buying an additional 311,099 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Fastenal by 3.3% in the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock worth $1,041,607,000 after buying an additional 633,546 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock worth $829,314,000 after buying an additional 1,134,666 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Fastenal by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after buying an additional 225,481 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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