Fastenal (NASDAQ:FAST) Director Sells $147,000.00 in Stock

Fastenal Company (NASDAQ:FAST) Director Michael Ancius sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fastenal Trading Up 2.3%

Fastenal stock opened at $47.71 on Friday. The stock has a 50-day moving average of $46.31 and a two-hundred day moving average of $45.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. Fastenal Company has a one year low of $38.97 and a one year high of $50.63. The stock has a market cap of $54.75 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 2.92 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts anticipate that Fastenal Company will post 1.25 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 88.14%.

Institutional Investors Weigh In On Fastenal

A number of institutional investors and hedge funds have recently modified their holdings of FAST. Elyxium Wealth LLC purchased a new stake in Fastenal in the fourth quarter valued at approximately $25,000. Palladiem LLC purchased a new position in Fastenal during the 4th quarter worth approximately $25,000. Evergreen Advisors LLC purchased a new position in Fastenal during the 1st quarter worth approximately $26,000. MV Capital Management Inc. purchased a new position in Fastenal during the 4th quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new stake in Fastenal during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. DA Davidson reissued a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Finally, Bank of America upped their target price on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $48.83.

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.