Rita J. Heise Sells 10,888 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal (NASDAQ:FAST) Director Rita J. Heise sold 10,888 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,553,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fastenal Stock Up 0.1 %

Shares of NASDAQ:FAST opened at $78.23 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The firm has a market capitalization of $44.82 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 4.59 and a beta of 1.01. The firm’s 50-day moving average is $71.94 and its two-hundred day moving average is $68.24. Fastenal has a 1 year low of $58.23 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend yield of 1.99%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FAST shares. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Bank of America started coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird boosted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Morgan Stanley boosted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.33.

Hedge Funds Weigh In On Fastenal

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal during the third quarter worth about $310,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Fastenal by 98.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock valued at $9,126,000 after purchasing an additional 58,726 shares in the last quarter. Empowered Funds LLC boosted its holdings in Fastenal by 205.4% in the first quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock valued at $2,097,000 after purchasing an additional 18,281 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Fastenal by 499.7% in the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock valued at $10,186,000 after purchasing an additional 110,027 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Fastenal by 7.2% in the first quarter. Nordea Investment Management AB now owns 1,371,825 shares of the company’s stock valued at $106,316,000 after purchasing an additional 91,754 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Company Profile

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.