Fastenal (NASDAQ:FAST) Shares Gap Down to $37.31

Fastenal (NASDAQ:FAST) gapped down prior to trading on Friday . The stock had previously closed at $38.25, but opened at $37.31. Fastenal shares last traded at $36.80, with a volume of 12,777,920 shares trading hands.

Several research analysts have recently issued reports on FAST shares. Cleveland Research reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, September 24th. Argus raised their target price on shares of Fastenal to $41.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley raised their target price on shares of Fastenal from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on shares of Fastenal in a research note on Friday, November 22nd. They issued a “buy” rating and a $377.00 target price on the stock. Finally, ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Fastenal has a consensus rating of “Hold” and an average price target of $73.78.

The firm’s 50 day moving average is $36.50 and its two-hundred day moving average is $33.72. The firm has a market cap of $21.12 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. The company has a current ratio of 4.51, a quick ratio of 2.06 and a debt-to-equity ratio of 0.23.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm earned $0.60 EPS. Fastenal’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that Fastenal will post 1.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a dividend of $0.25 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.72%. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.

In related news, CAO Sheryl Ann Lisowski sold 20,578 shares of Fastenal stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.94, for a total transaction of $760,151.32. Following the transaction, the chief accounting officer now owns 17,266 shares of the company’s stock, valued at approximately $637,806.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Joseph Drazkowski sold 16,666 shares of Fastenal stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $36.77, for a total transaction of $612,808.82. Following the transaction, the insider now directly owns 19,456 shares in the company, valued at approximately $715,397.12. The disclosure for this sale can be found here. Insiders have sold a total of 141,620 shares of company stock worth $5,230,409 in the last three months. 0.56% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new stake in shares of Fastenal in the second quarter valued at approximately $32,000. Executive Wealth Management LLC increased its holdings in Fastenal by 120.7% during the third quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock worth $40,000 after buying an additional 683 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Fastenal by 97.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,400 shares of the company’s stock worth $46,000 after buying an additional 692 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in Fastenal by 504.9% during the second quarter. CSat Investment Advisory L.P. now owns 1,621 shares of the company’s stock worth $53,000 after buying an additional 1,353 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Fastenal by 19.0% during the third quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock worth $59,000 after buying an additional 290 shares during the last quarter. 84.45% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Company Profile (NASDAQ:FAST)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Recommended Story: How much money do you need to begin day trading?

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.