Fastenal’s (FAST) “Buy” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Fastenal (NASDAQ:FAST) in a research note released on Monday morning, Benzinga reports. They currently have a $86.00 target price on the stock, up from their previous target price of $80.00.

Several other research firms also recently commented on FAST. Stephens lifted their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley started coverage on Fastenal in a report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target on the stock. Finally, Jefferies Financial Group reduced their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.33.

Fastenal Stock Up 1.1 %

FAST opened at $77.77 on Monday. The company has a market cap of $44.53 billion, a P/E ratio of 38.69, a P/E/G ratio of 4.13 and a beta of 1.01. The business’s 50-day moving average price is $69.46 and its 200-day moving average price is $67.95. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 12 month low of $56.41 and a 12 month high of $79.04.

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

Fastenal Announces Dividend

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

Insider Buying and Selling at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,799 shares of company stock valued at $9,967,510. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastenal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Valley Advisors LLC purchased a new stake in Fastenal during the 2nd quarter valued at $28,000. MCF Advisors LLC raised its stake in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after buying an additional 391 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Fastenal during the 2nd quarter valued at $32,000. Crewe Advisors LLC raised its stake in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its stake 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 last quarter. 81.38% of the stock is owned by institutional investors.

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.