Fastenal (NASDAQ:FAST) EVP Anthony Paul Broersma Sells 5,568 Shares

Fastenal (NASDAQ:FAST) EVP Anthony Paul Broersma sold 5,568 shares of Fastenal stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $81.19, for a total transaction of $452,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fastenal Stock Up 0.9 %

FAST opened at $80.97 on Thursday. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm’s fifty day moving average price is $77.24 and its two-hundred day moving average price is $77.17. The company has a market capitalization of $46.45 billion, a P/E ratio of 40.28, a P/E/G ratio of 3.58 and a beta of 1.05.

Shares of Fastenal are scheduled to split on Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly issued shares will be issued to shareholders after the market closes on Wednesday, May 21st.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, April 25th. This is an increase from Fastenal’s previous quarterly dividend of $0.43. Fastenal’s payout ratio is currently 87.56%.

Analysts Set New Price Targets

FAST has been the topic of a number of recent analyst reports. Stephens lifted their price target on shares of Fastenal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 15th. William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Robert W. Baird boosted their target price on shares of Fastenal from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $79.10.

Institutional Investors Weigh In On Fastenal

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Fastenal by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock valued at $3,817,000 after purchasing an additional 130 shares in the last quarter. Anchor Investment Management LLC lifted its position in Fastenal by 3.4% during the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company’s stock worth $297,000 after buying an additional 135 shares in the last quarter. Principal Securities Inc. lifted its position in Fastenal by 0.9% during the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock worth $1,142,000 after buying an additional 140 shares in the last quarter. Salvus Wealth Management LLC lifted its position in Fastenal by 1.6% during the 1st quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company’s stock worth $698,000 after buying an additional 141 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company’s stock worth $840,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds 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.