Fastenal Company (NASDAQ:FAST) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fastenal Company (NASDAQ:FAST) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $49.1667.

A number of research firms have issued reports on FAST. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Wolfe Research upped their target price on shares of Fastenal from $43.00 to $46.00 and gave the company an “underperform” rating in a research report on Tuesday, March 31st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research note on Thursday, March 5th. Finally, Robert W. Baird upped their price target on Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, March 6th.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Institutional Trading of Fastenal

A number of large investors have recently bought and sold shares of FAST. Brighton Jones LLC bought a new stake in Fastenal during the 4th quarter worth approximately $496,000. Integrated Wealth Concepts LLC increased its stake in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares in the last quarter. Quantbot Technologies LP bought a new stake in Fastenal during the 2nd quarter worth approximately $158,000. Jump Financial LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $2,199,000. Finally, Federated Hermes Inc. increased its stake in Fastenal by 14,646.4% during the 2nd quarter. Federated Hermes Inc. now owns 165,750 shares of the company’s stock worth $6,962,000 after purchasing an additional 164,626 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

Fastenal stock opened at $49.10 on Friday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal has a 1 year low of $36.63 and a 1 year high of $50.63. The company has a market cap of $56.38 billion, a PE ratio of 44.64, a PEG ratio of 3.06 and a beta of 0.84. The company’s 50-day moving average is $46.00 and its two-hundred day moving average is $43.81.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is 87.27%.

About Fastenal

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.