Sarah Nielsen Buys 1,000 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal Company (NASDAQ:FAST) Director Sarah Nielsen acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at $198,000. The trade was a 25.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Fastenal Trading Down 0.7%

Shares of NASDAQ FAST traded down $0.26 during mid-day trading on Thursday, reaching $39.29. The company had a trading volume of 3,868,218 shares, compared to its average volume of 6,546,004. The stock has a market cap of $45.10 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The business’s 50-day moving average is $44.24 and its 200-day moving average is $44.39. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s payout ratio is currently 82.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Barclays reduced their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Finally, Northcoast Research began coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.32.

Institutional Investors Weigh In On Fastenal

A number of large investors have recently made changes to their positions in FAST. Riverview Trust Co grew its stake in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Hilltop National Bank purchased a new stake in Fastenal in the second quarter valued at approximately $27,000. Private Wealth Management Group LLC increased its holdings in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in Fastenal during the 2nd quarter worth approximately $27,000. Finally, Armstrong Advisory Group Inc. raised its position in Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after buying an additional 348 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.