Fastenal (NASDAQ:FAST) Sets New 12-Month High at $36.73

Shares of Fastenal (NASDAQ:FAST) hit a new 52-week high during trading on Monday . The stock traded as high as $36.73 and last traded at $36.68, with a volume of 53197 shares trading hands. The stock had previously closed at $35.83.

FAST has been the topic of several recent analyst reports. Cleveland Research restated a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. Argus raised their price objective on shares of Fastenal to $41.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Co decreased their price objective on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. Buckingham Research raised their price objective on shares of Fastenal from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Finally, BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.55.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51. The company has a market capitalization of $20.55 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.62 and a beta of 1.24. The business’s fifty day simple moving average is $32.91 and its 200-day simple moving average is $40.37.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. Fastenal’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts forecast that Fastenal will post 1.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.22 dividend. The ex-dividend date is Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.35%. Fastenal’s dividend payout ratio is currently 66.67%.

In other Fastenal news, CEO Daniel L. Florness sold 40,000 shares of Fastenal stock in a transaction on Monday, October 14th. The shares were sold at an average price of $36.00, for a total value of $1,440,000.00. Following the sale, the chief executive officer now directly owns 239,690 shares in the company, valued at approximately $8,628,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 8,750 shares of Fastenal stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.35, for a total transaction of $309,312.50. Following the completion of the sale, the chief accounting officer now owns 9,350 shares in the company, valued at $330,522.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,365 shares of company stock worth $1,937,415. 0.62% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FAST. Farmers & Merchants Investments Inc. grew its stake in shares of Fastenal by 94.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after buying an additional 375 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Fastenal in the 2nd quarter worth $26,000. Wealthcare Advisory Partners LLC grew its stake in shares of Fastenal by 101.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after buying an additional 424 shares in the last quarter. Clarus Wealth Advisors grew its stake in shares of Fastenal by 101.2% in the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after buying an additional 425 shares in the last quarter. Finally, FTB Advisors Inc. purchased a new position in shares of Fastenal in the 2nd quarter worth $29,000. Institutional investors own 83.98% of the company’s stock.

About Fastenal (NASDAQ:FAST)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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