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

Shares of Fastenal Company (NASDAQ:FAST) have received an average rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.00.

Several equities analysts recently commented on FAST shares. UBS Group restated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday. Robert W. Baird dropped their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $43.89 on Friday. The firm has a market cap of $50.39 billion, a P/E ratio of 39.90, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. The business’s 50 day moving average is $41.47 and its 200-day moving average is $44.45. The company has a current ratio of 4.85, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $35.31 and a 1-year high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. Equities research 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. Stockholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 80.00%.

Insider Buying and Selling at Fastenal

In related news, Director Sarah N. Nielsen bought 1,000 shares of Fastenal stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $198,000. This trade represents a 25.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. This represents a 11.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Fastenal

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares during the last quarter. Founders Capital Management LLC boosted its holdings in shares of Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after purchasing an additional 228 shares in the last quarter. Sowell Financial Services LLC increased its stake in shares of Fastenal by 4.7% in the 3rd quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after purchasing an additional 238 shares during the last quarter. L2 Asset Management LLC increased its stake in shares of Fastenal by 4.8% in the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after purchasing an additional 248 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV raised its holdings in shares of Fastenal by 1.7% during the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after buying an additional 250 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

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.