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

Fastenal (NASDAQ:FAST) has earned an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $79.10.

Several research firms have weighed in on FAST. Stephens increased their target price on shares of Fastenal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 15th. Robert W. Baird lifted their target price on Fastenal from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, April 14th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Stifel Nicolaus cut their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th.

Insider Activity at Fastenal

In other Fastenal news, Director Scott Satterlee sold 9,670 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $79.51, for a total value of $768,861.70. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $1,987,750. The trade was a 27.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Joseph Drazkowski sold 15,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the completion of the transaction, the executive vice president now directly owns 5,997 shares in the company, valued at $487,616.07. The trade was a 71.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,238 shares of company stock valued at $6,546,578. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FAST. Oregon Public Employees Retirement Fund increased its stake in shares of Fastenal by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock valued at $3,817,000 after purchasing an additional 130 shares during the last quarter. Anchor Investment Management LLC lifted its stake in shares of Fastenal by 3.4% in the fourth quarter. Anchor Investment Management LLC now owns 4,134 shares of the company’s stock worth $297,000 after acquiring an additional 135 shares during the period. Welch & Forbes LLC increased its position in shares of Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock worth $2,559,000 after buying an additional 135 shares during the period. Principal Securities Inc. grew its stake in Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock worth $1,142,000 after purchasing an additional 140 shares during the period. Finally, Salvus Wealth Management LLC boosted its stake in Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company’s stock worth $698,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $83.16 on Tuesday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The stock has a market capitalization of $47.70 billion, a P/E ratio of 41.37, a P/E/G ratio of 3.58 and a beta of 1.01. The business has a 50-day moving average price of $78.47 and a two-hundred day moving average price of $77.48.

Fastenal’s stock is going to split on the morning of Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly issued shares will be payable to shareholders after the market closes on Wednesday, May 21st.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. Equities analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be paid a $0.44 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, April 25th. Fastenal’s payout ratio is presently 87.56%.

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.