Fastenal (NASDAQ:FAST) Given Average Rating of “Reduce” by Brokerages

Shares of Fastenal (NASDAQ:FAST) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $77.27.

A number of research analysts have recently commented on FAST shares. Stifel Nicolaus cut Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Morgan Stanley boosted their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th.

Insider Activity at Fastenal

In other news, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $24,168,521. This represents a 10.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 74,660 shares of company stock worth $6,211,126 over the last quarter. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in Fastenal in the 3rd quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in Fastenal in the third quarter worth $27,000. Moisand Fitzgerald Tamayo LLC raised its stake in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares in the last quarter. First Personal Financial Services bought a new position in Fastenal during the third quarter valued at $36,000. Finally, CVA Family Office LLC grew its stake in shares of Fastenal by 51.0% in the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after buying an additional 180 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 1.8 %

FAST opened at $76.08 on Wednesday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The firm has a market capitalization of $43.59 billion, a PE ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The company’s 50-day moving average is $77.92 and its 200 day moving average is $73.07.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

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.