Fastenal (NASDAQ:FAST) Director Scott Satterlee Sells 15,964 Shares of Stock

Fastenal Company (NASDAQ:FAST) Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fastenal Stock Up 0.5%

Shares of FAST opened at $43.95 on Wednesday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $50.46 billion, a PE ratio of 39.95, a PEG ratio of 2.79 and a beta of 0.90. The stock’s 50-day moving average price is $41.63 and its two-hundred day moving average price is $44.47.

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

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be paid a dividend of $0.24 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is 80.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FAST shares. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. Barclays set a $43.00 price objective on Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in shares of 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 during the period. Founders Capital Management LLC raised its position in Fastenal by 2.2% in the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after acquiring an additional 228 shares during the period. Sowell Financial Services LLC boosted its stake in Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after acquiring an additional 238 shares during the last quarter. L2 Asset Management LLC grew its position in shares of Fastenal by 4.8% during the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock valued at $264,000 after acquiring an additional 248 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV increased its stake 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 purchasing an additional 250 shares during the last quarter. Hedge funds and other 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.