BidaskClub downgraded shares of Fastenal (NASDAQ:FAST) from a buy rating to a hold rating in a report issued on Tuesday morning.

A number of other analysts also recently weighed in on the stock. Robert W. Baird downgraded shares of Fastenal from an outperform rating to a neutral rating in a report on Tuesday, July 3rd. Stifel Nicolaus increased their price target on shares of Fastenal from $53.00 to $56.00 and gave the company a hold rating in a report on Friday, July 13th. Northcoast Research set a $60.00 price target on shares of Fastenal and gave the company a buy rating in a report on Friday, July 13th. Zacks Investment Research raised shares of Fastenal from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Tuesday, July 3rd. Finally, Wolfe Research started coverage on shares of Fastenal in a report on Wednesday, June 27th. They issued an underperform rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Fastenal presently has a consensus rating of Hold and a consensus target price of $55.55.

Shares of Fastenal stock opened at $58.17 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. Fastenal has a fifty-two week low of $40.76 and a fifty-two week high of $61.14. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.64 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, July 11th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue was up 13.1% on a year-over-year basis. equities research analysts expect that Fastenal will post 2.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 22nd. Stockholders of record on Wednesday, July 25th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Fastenal’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, July 24th. Fastenal’s dividend payout ratio (DPR) is presently 82.90%.

In other Fastenal news, insider Terry Modock Owen acquired 2,000 shares of Fastenal stock in a transaction dated Wednesday, June 6th. The stock was bought at an average cost of $51.85 per share, with a total value of $103,700.00. Following the acquisition, the insider now owns 2,000 shares of the company’s stock, valued at $103,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in FAST. Global X Management Co. LLC lifted its holdings in shares of Fastenal by 190.6% during the 1st quarter. Global X Management Co. LLC now owns 59,290 shares of the company’s stock worth $3,237,000 after acquiring an additional 38,890 shares during the period. HL Financial Services LLC lifted its holdings in Fastenal by 1.1% during the 1st quarter. HL Financial Services LLC now owns 1,811,214 shares of the company’s stock valued at $98,874,000 after purchasing an additional 20,012 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in Fastenal by 296.4% during the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 54,677 shares of the company’s stock valued at $2,895,000 after purchasing an additional 40,885 shares during the last quarter. Morse Asset Management Inc bought a new position in Fastenal during the 1st quarter valued at about $895,000. Finally, Dupont Capital Management Corp bought a new position in Fastenal during the 1st quarter valued at about $159,000. 85.88% of the stock is owned by institutional investors.

About Fastenal

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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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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