Fastenal Company (FAST) VP Leland J. Hein Sells 10,000 Shares
Fastenal Company (NASDAQ:FAST) VP Leland J. Hein sold 10,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the vice president now directly owns 20,258 shares in the company, valued at approximately $972,384. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Fastenal Company (NASDAQ FAST) opened at $48.04 on Wednesday. The firm has a market cap of $13,811.98, a P/E ratio of 25.56, a P/E/G ratio of 1.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. Fastenal Company has a 52-week low of $39.78 and a 52-week high of $52.74.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. Fastenal’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. research analysts predict that Fastenal Company will post 1.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th will be given a $0.32 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.66%. Fastenal’s dividend payout ratio is 68.09%.
Fastenal announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 11th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts have commented on the stock. BMO Capital Markets reissued a “market perform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Stephens set a $54.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research note on Thursday, October 12th. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Fastenal in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Fastenal has an average rating of “Buy” and an average price target of $50.80.
Several large investors have recently made changes to their positions in the stock. Cipher Capital LP raised its position in shares of Fastenal by 6.5% in the 3rd quarter. Cipher Capital LP now owns 34,287 shares of the company’s stock valued at $1,562,000 after acquiring an additional 2,084 shares during the period. Macquarie Group Ltd. raised its position in shares of Fastenal by 14.8% in the 3rd quarter. Macquarie Group Ltd. now owns 18,251 shares of the company’s stock valued at $832,000 after acquiring an additional 2,351 shares during the period. Check Capital Management Inc. CA raised its position in shares of Fastenal by 2,404.3% in the 3rd quarter. Check Capital Management Inc. CA now owns 463,192 shares of the company’s stock valued at $21,112,000 after acquiring an additional 444,696 shares during the period. Commonwealth Equity Services Inc raised its holdings in Fastenal by 6.3% during the 3rd quarter. Commonwealth Equity Services Inc now owns 191,909 shares of the company’s stock worth $8,747,000 after buying an additional 11,352 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Fastenal by 13.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,391 shares of the company’s stock worth $1,522,000 after buying an additional 3,932 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.
Fastenal Company Profile
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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