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

Fastenal Company (NASDAQ:FAST) has received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $48.1818.

FAST has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on shares of Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Wolfe Research reduced their price target on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FAST. Palladiem LLC acquired a new position in Fastenal during the fourth quarter worth about $25,000. SOA Wealth Advisors LLC. increased its stake in shares of Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $30,000. Elyxium Wealth LLC purchased a new stake in Fastenal in the 4th quarter valued at approximately $25,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $45.98 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The stock has a market capitalization of $52.79 billion, a P/E ratio of 41.80, a P/E/G ratio of 2.91 and a beta of 0.89. The company’s fifty day moving average is $43.40 and its two-hundred day moving average is $44.43. Fastenal has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business earned $0.46 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s dividend payout ratio is 87.27%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.