Fastenal (NASDAQ:FAST) Director Buys $42,450.00 in Stock

Fastenal Company (NASDAQ:FAST) Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was acquired at an average cost of $42.45 per share, with a total value of $42,450.00. Following the transaction, the director directly owned 9,000 shares of the company’s stock, valued at approximately $382,050. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Fastenal Price Performance

Fastenal stock opened at $42.46 on Friday. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The firm has a fifty day moving average of $47.83 and a 200-day moving average of $44.03. The firm has a market capitalization of $48.73 billion, a P/E ratio of 39.68, a PEG ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.26 EPS. Fastenal’s revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is presently 82.24%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. 1248 Management LLC bought a new position in Fastenal during the 1st quarter valued at $36,000. Horizon Financial Services LLC boosted its stake in Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. Riverview Trust Co boosted its stake in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Fastenal during the 1st quarter valued at $49,000. Finally, Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FAST. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Stephens upped their target price on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $46.50.

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.