Fastenal (NASDAQ:FAST) VP John Lewis Soderberg Sells 488 Shares

Fastenal (NASDAQ:FAST) VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Fastenal Price Performance

Shares of Fastenal stock opened at $77.77 on Thursday. The business’s fifty day moving average price is $69.46 and its 200 day moving average price is $67.95. Fastenal has a twelve month low of $56.41 and a twelve month high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $44.53 billion, a P/E ratio of 38.69, a PEG ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, research analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.01%. Fastenal’s dividend payout ratio is currently 77.61%.

Institutional Investors Weigh In On Fastenal

Large investors have recently made changes to their positions in the business. Central Valley Advisors LLC purchased a new stake in Fastenal during the 2nd quarter worth $28,000. MCF Advisors LLC raised its position in Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of Fastenal during the second quarter worth about $32,000. Crewe Advisors LLC lifted its stake in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its position in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on FAST shares. Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research report on Monday. Jefferies Financial Group decreased their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stephens upped their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday. Robert W. Baird increased their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday. 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.33.

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.