William Joseph Drazkowski Sells 16,362 Shares of Fastenal (NASDAQ:FAST) Stock

Fastenal (NASDAQ:FAST) insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the transaction, the insider now owns 5,997 shares in the company, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fastenal Stock Performance

Shares of FAST traded down $0.03 during trading hours on Friday, reaching $77.61. 1,105,031 shares of the company traded hands, compared to its average volume of 3,357,899. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The stock’s fifty day moving average is $69.69 and its 200 day moving average is $68.02. Fastenal has a 1-year low of $56.41 and a 1-year high of $79.04. The stock has a market cap of $44.44 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the company earned $0.52 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. Fastenal’s dividend payout ratio is currently 77.61%.

Hedge Funds Weigh In On Fastenal

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in shares of Fastenal by 3.4% in the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after acquiring an additional 193,734 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Fastenal by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company’s stock worth $293,179,000 after purchasing an additional 66,130 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Fastenal by 13.2% during the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock valued at $277,794,000 after purchasing an additional 517,172 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after purchasing an additional 636,546 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Fastenal by 21.2% in the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after purchasing an additional 569,118 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Robert W. Baird upped their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America initiated coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.33.

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.