Fastenal (NASDAQ:FAST) Insider Sells $826,988.80 in Stock

Fastenal (NASDAQ:FASTGet Free Report) insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the transaction, the insider now owns 5,997 shares in the company, valued at $414,392.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

William Joseph Drazkowski also recently made the following trade(s):

  • On Wednesday, December 13th, William Joseph Drazkowski sold 11,000 shares of Fastenal stock. The stock was sold at an average price of $63.47, for a total transaction of $698,170.00.

Fastenal Price Performance

NASDAQ:FAST opened at $68.23 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.57 and a quick ratio of 2.27. The firm’s fifty day moving average price is $64.21 and its two-hundred day moving average price is $59.75. Fastenal has a one year low of $49.42 and a one year high of $70.10. The company has a market cap of $38.99 billion, a P/E ratio of 33.78, a P/E/G ratio of 3.57 and a beta of 1.08.

Fastenal (NASDAQ:FASTGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the company posted $0.43 earnings per share. Fastenal’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that Fastenal will post 2.13 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 1st will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.29%. Fastenal’s dividend payout ratio is 69.31%.

Hedge Funds Weigh In On Fastenal

Institutional investors and hedge funds have recently modified their holdings of the business. Mission Wealth Management LP bought a new stake in Fastenal during the second quarter worth about $213,000. Ontario Teachers Pension Plan Board bought a new stake in Fastenal during the second quarter worth about $447,000. PSI Advisors LLC lifted its position in Fastenal by 2,538.1% during the second quarter. PSI Advisors LLC now owns 554 shares of the company’s stock worth $33,000 after purchasing an additional 533 shares during the period. Groesbeck Investment Management Corp NJ bought a new stake in Fastenal during the second quarter worth about $206,000. Finally, National Bank of Canada FI lifted its position in Fastenal by 26.8% during the third quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock worth $14,401,000 after purchasing an additional 55,491 shares during the period. 78.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FAST. Robert W. Baird boosted their target price on shares of Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. StockNews.com started coverage on shares of Fastenal in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Fastenal from $69.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.17.

Check Out Our Latest Report on FAST

About Fastenal

(Get Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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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Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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