Holden Lewis Sells 30,000 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal (NASDAQ:FASTGet Free Report) CFO Holden Lewis sold 30,000 shares of Fastenal stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.52, for a total transaction of $2,295,600.00. Following the completion of the sale, the chief financial officer now owns 9,881 shares of the company’s stock, valued at $756,094.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fastenal Stock Down 0.2 %

FAST opened at $77.64 on Friday. The business has a 50 day moving average of $69.69 and a 200-day moving average of $68.02. The stock has a market capitalization of $44.45 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 4.13 and a beta of 1.01. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 1-year low of $56.41 and a 1-year high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business posted $0.52 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analysts Set New Price Targets

FAST has been the topic of a number of recent research reports. Robert W. Baird raised their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday. Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group reduced their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.33.

View Our Latest Stock Analysis on FAST

Hedge Funds Weigh In On Fastenal

Large investors have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC bought a new stake in shares of Fastenal during the third quarter valued at approximately $310,000. Claro Advisors LLC boosted its stake in Fastenal by 84.1% during the third quarter. Claro Advisors LLC now owns 6,960 shares of the company’s stock worth $497,000 after buying an additional 3,180 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Fastenal by 34.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 7,562 shares of the company’s stock valued at $540,000 after buying an additional 1,930 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Fastenal by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,818 shares of the company’s stock valued at $4,201,000 after buying an additional 240 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Fastenal by 6.1% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 68,873 shares of the company’s stock worth $4,919,000 after acquiring an additional 3,937 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

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, 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.

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