Fastenal (NASDAQ:FAST) Short Interest Update

Fastenal (NASDAQ:FAST) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 12,030,000 shares, a decline of 5.9% from the November 15th total of 12,780,000 shares. Based on an average trading volume of 2,630,000 shares, the days-to-cover ratio is presently 4.6 days. Approximately 2.1% of the company’s shares are sold short.

Fastenal Stock Down 0.6 %

Shares of Fastenal stock opened at $77.64 on Wednesday. Fastenal has a 12-month low of $61.33 and a 12-month high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $44.48 billion, a P/E ratio of 38.63, a PEG ratio of 4.69 and a beta of 1.00. The stock has a 50 day moving average price of $79.78 and a two-hundred day moving average price of $71.55.

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

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.01%. Fastenal’s payout ratio is 77.61%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FAST shares. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Robert W. Baird increased their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Finally, UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.40.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the sale, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,289 shares of company stock valued at $12,639,438 in the last three months. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastenal

A number of institutional investors and hedge funds have recently made changes to their positions in FAST. Blue Trust Inc. boosted its holdings in shares of Fastenal by 63.2% in the second quarter. Blue Trust Inc. now owns 3,699 shares of the company’s stock valued at $232,000 after buying an additional 1,432 shares during the period. Brookstone Capital Management grew its holdings in shares of Fastenal by 10.6% during the second quarter. Brookstone Capital Management now owns 4,530 shares of the company’s stock worth $285,000 after purchasing an additional 436 shares during the last quarter. Raymond James & Associates lifted its holdings in Fastenal by 3.4% during the 2nd quarter. Raymond James & Associates now owns 936,482 shares of the company’s stock worth $58,849,000 after buying an additional 30,982 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Fastenal by 46.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,355 shares of the company’s stock worth $1,530,000 after acquiring an additional 7,748 shares during the last quarter. Finally, Investment House LLC boosted its stake in shares of Fastenal by 0.9% in the 2nd quarter. Investment House LLC now owns 120,542 shares of the company’s stock worth $7,575,000 after buying an additional 1,089 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

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.