Robert W. Baird Trims Fastenal (NASDAQ:FAST) Target Price to $71.00

Fastenal (NASDAQ:FAST) had its price target decreased by Robert W. Baird from $77.00 to $71.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Separately, Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a buy rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has an average rating of Hold and an average price target of $67.00.

Fastenal Stock Up 0.8 %

FAST stock opened at $70.45 on Friday. Fastenal has a one year low of $50.30 and a one year high of $79.04. The stock has a market capitalization of $40.31 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 3.64 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 4.83. The company has a fifty day moving average of $73.74 and a 200-day moving average of $65.98.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $0.52 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reyne K. Wisecup sold 34,042 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,369,600. The disclosure for this sale can be found here. In the last three months, insiders sold 105,682 shares of company stock worth $7,375,853. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastenal

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in shares of Fastenal by 3.7% during the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Fastenal by 178.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after buying an additional 49,972 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Fastenal during the third quarter worth about $1,293,000. National Bank of Canada FI grew its holdings in shares of 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 buying an additional 55,491 shares in the last quarter. Finally, Kampmann Melissa S. purchased a new stake in shares of Fastenal during the third quarter worth about $2,777,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, 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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.