Fastenal (NASDAQ:FAST) VP Sells $1,970,441.60 in Stock

Fastenal (NASDAQ:FAST) VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fastenal Stock Performance

Shares of FAST stock opened at $81.85 on Monday. The stock has a market capitalization of $46.89 billion, a P/E ratio of 40.72, a PEG ratio of 4.80 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $74.96 and its 200 day moving average is $69.24. Fastenal has a 12 month low of $59.47 and a 12 month high of $84.88.

Fastenal (NASDAQ:FAST) last posted its 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 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Analyst Upgrades and Downgrades

FAST has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Robert W. Baird lifted their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Stephens lifted their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 price target (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their target price 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.80.

Hedge Funds Weigh In On Fastenal

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Fastenal during the 3rd quarter valued at $25,000. Knuff & Co LLC purchased a new stake in Fastenal during the 3rd quarter valued at $27,000. Central Valley Advisors LLC purchased a new stake in Fastenal during the 2nd quarter valued at $28,000. Moisand Fitzgerald Tamayo LLC boosted its position in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the period. Finally, LRI Investments LLC purchased a new stake in Fastenal during the 1st quarter valued at $39,000. Institutional investors own 81.38% of the company’s stock.

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.