Anthony Paul Broersma Sells 5,586 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal (NASDAQ:FASTGet Free Report) EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Fastenal Price Performance

Shares of Fastenal stock opened at $70.02 on Friday. The stock has a market cap of $40.07 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 3.60 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.27 and a current ratio of 4.57. The stock has a 50 day moving average price of $65.52 and a 200-day moving average price of $60.32. Fastenal has a one year low of $50.30 and a one year high of $70.95.

Fastenal (NASDAQ:FASTGet Free Report) last announced its earnings results on Thursday, January 18th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st will be issued a $0.39 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, January 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.23%. Fastenal’s payout ratio is 77.23%.

Hedge Funds Weigh In On Fastenal

A number of institutional investors and hedge funds have recently modified their holdings of FAST. BlackRock Inc. lifted its stake in shares of Fastenal by 0.3% during the 1st quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock worth $2,435,637,000 after acquiring an additional 138,257 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fastenal by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 14,122,516 shares of the company’s stock worth $831,215,000 after acquiring an additional 446,106 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after acquiring an additional 423,112 shares during the last quarter. Morgan Stanley lifted its stake in shares of Fastenal by 37.8% during the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after acquiring an additional 2,492,722 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Fastenal by 0.6% during the 1st quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after acquiring an additional 41,898 shares during the last quarter. Hedge funds and other institutional investors own 78.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price target on Fastenal from $69.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 19th. Robert W. Baird raised their price target on Fastenal from $62.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $62.17.

Check Out Our Latest Report on FAST

Fastenal Company Profile

(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.

Further Reading

Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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