Fastenal Company (NASDAQ:FAST) Receives Average Rating of “Hold” from Analysts

Shares of Fastenal Company (NASDAQ:FAST) have earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $46.50.

Several equities research analysts recently issued reports on FAST shares. JPMorgan Chase & Co. increased their price objective on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Loop Capital reissued a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Northcoast Research began coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th.

Insiders Place Their Bets

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction dated Thursday, October 16th. The shares were purchased at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the acquisition, the director owned 9,000 shares in the company, valued at $382,050. The trade was a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastenal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FAST. Brighton Jones LLC acquired a new position in shares of Fastenal during the 4th quarter worth $496,000. Allworth Financial LP boosted its holdings in Fastenal by 6.4% in the first quarter. Allworth Financial LP now owns 6,966 shares of the company’s stock worth $572,000 after purchasing an additional 416 shares in the last quarter. Cerity Partners LLC boosted its holdings in Fastenal by 5.4% in the first quarter. Cerity Partners LLC now owns 203,791 shares of the company’s stock worth $15,804,000 after purchasing an additional 10,531 shares in the last quarter. Ballentine Partners LLC increased its position in Fastenal by 4.7% during the first quarter. Ballentine Partners LLC now owns 11,327 shares of the company’s stock worth $878,000 after buying an additional 505 shares during the last quarter. Finally, Schechter Investment Advisors LLC raised its holdings in Fastenal by 2.9% during the first quarter. Schechter Investment Advisors LLC now owns 7,196 shares of the company’s stock valued at $558,000 after buying an additional 203 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.2%

NASDAQ FAST opened at $41.35 on Tuesday. The firm’s 50 day moving average price is $45.41 and its two-hundred day moving average price is $44.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market cap of $47.47 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.26 EPS. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

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.