Fastenal (NASDAQ:FAST) had its price target decreased by Deutsche Bank Aktiengesellschaft from $54.00 to $52.00 in a research report released on Wednesday, The Fly reports.
A number of other brokerages have also commented on FAST. Morgan Stanley lifted their price target on shares of Fastenal from $46.00 to $47.00 and gave the stock an equal weight rating in a report on Wednesday. Wells Fargo & Company downgraded Fastenal from an overweight rating to an equal weight rating and set a $50.00 target price on the stock. in a report on Thursday, September 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Fastenal from an underweight rating to a neutral rating and set a $34.00 price target for the company in a research note on Tuesday, June 23rd. Raymond James lowered Fastenal from a market perform rating to an underperform rating in a research note on Friday, September 4th. Finally, Jefferies Financial Group reiterated a hold rating and issued a $46.00 target price on shares of Fastenal in a report on Wednesday, July 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $44.36.
Fastenal stock opened at $45.26 on Wednesday. The stock has a 50-day moving average price of $45.63 and a two-hundred day moving average price of $42.19. Fastenal has a 12 month low of $26.72 and a 12 month high of $49.86. The company has a market capitalization of $25.96 billion, a PE ratio of 31.00, a P/E/G ratio of 3.63 and a beta of 1.19. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.15.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Sunday, October 18th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts predict that Fastenal will post 1.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. Fastenal’s dividend payout ratio is currently 72.46%.
In other news, VP Leland J. Hein sold 9,100 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $44.37, for a total value of $403,767.00. Following the completion of the sale, the vice president now directly owns 19,032 shares in the company, valued at approximately $844,449.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James C. Jansen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the executive vice president now directly owns 40,176 shares of the company’s stock, valued at $1,830,016.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,724 shares of company stock worth $4,473,812. 0.57% of the stock is owned by insiders.
Several large investors have recently modified their holdings of FAST. Sumitomo Mitsui Trust Holdings Inc. grew its position in Fastenal by 64.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,878,250 shares of the company’s stock valued at $166,144,000 after purchasing an additional 1,526,965 shares during the period. FMR LLC lifted its stake in shares of Fastenal by 72.5% in the second quarter. FMR LLC now owns 1,627,880 shares of the company’s stock valued at $69,738,000 after buying an additional 684,114 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Fastenal during the first quarter valued at about $19,844,000. Nordea Investment Management AB increased its position in shares of Fastenal by 95.7% during the second quarter. Nordea Investment Management AB now owns 1,270,456 shares of the company’s stock worth $53,652,000 after acquiring an additional 621,129 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Fastenal by 1.4% in the 2nd quarter. BlackRock Inc. now owns 45,737,441 shares of the company’s stock worth $1,959,395,000 after acquiring an additional 620,997 shares during the last quarter. 77.18% of the stock is currently owned by institutional investors.
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.
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