Fastenal Co. (FAST) EVP Leland J. Hein Sells 1,000 Shares
Fastenal Co. (NASDAQ:FAST) EVP Leland J. Hein sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $46.15, for a total value of $46,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Fastenal Co. (NASDAQ:FAST) traded down 0.02% during midday trading on Monday, reaching $46.36. The company had a trading volume of 2,289,943 shares. Fastenal Co. has a 52-week low of $35.10 and a 52-week high of $49.99. The company has a market capitalization of $13.40 billion, a P/E ratio of 26.98 and a beta of 0.92. The company’s 50 day moving average is $41.23 and its 200-day moving average is $42.89.
Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The business earned $1.01 billion during the quarter. During the same quarter in the prior year, the company earned $0.47 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Fastenal Co. will post $1.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. Fastenal’s dividend payout ratio is currently 69.77%.
A number of institutional investors have recently modified their holdings of FAST. FineMark National Bank & Trust raised its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the last quarter. Strategic Advisors LLC raised its stake in shares of Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock valued at $591,000 after buying an additional 47 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock valued at $708,000 after buying an additional 48 shares during the last quarter. Washington Trust Bank raised its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in shares of Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock valued at $652,000 after buying an additional 79 shares during the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on FAST. Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. Macquarie began coverage on Fastenal in a research report on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price target on the stock. BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of Fastenal in a research report on Monday, November 7th. Robert W. Baird restated a “neutral” rating and issued a $45.00 price target on shares of Fastenal in a research report on Thursday, October 13th. Finally, Argus cut Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. Fastenal has an average rating of “Hold” and an average price target of $47.93.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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