Fastenal (NASDAQ:FAST) Receives Consensus Recommendation of “Hold” from Analysts

Fastenal (NASDAQ:FAST) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $66.67.

FAST has been the topic of several recent research reports. Stephens reissued an “equal weight” rating and set a $56.00 price objective on shares of Fastenal in a report on Monday, July 15th. Robert W. Baird decreased their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Jefferies Financial Group dropped their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fastenal

Several large investors have recently made changes to their positions in the company. Central Valley Advisors LLC bought a new stake in Fastenal during the 2nd quarter worth about $28,000. MCF Advisors LLC grew its position in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of Fastenal during the second quarter worth approximately $32,000. Crewe Advisors LLC lifted its holdings in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the period. Finally, OFI Invest Asset Management bought a new position in Fastenal in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $68.10 on Friday. The company’s fifty day moving average is $66.17 and its two-hundred day moving average is $68.86. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The firm has a market capitalization of $38.99 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Fastenal will post 2.05 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

About Fastenal

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.