Fastenal (NASDAQ:FAST) Director Nicholas J. Lundquist Sells 22,532 Shares of Stock

Fastenal (NASDAQ:FAST) Director Nicholas J. Lundquist sold 22,532 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $77.15, for a total transaction of $1,738,343.80. Following the sale, the director now directly owns 426,000 shares of the company’s stock, valued at approximately $32,865,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fastenal Stock Down 0.2 %

Shares of FAST stock opened at $77.64 on Friday. 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 has a market cap of $44.45 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The business’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.

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

Fastenal Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Stephens boosted their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Jefferies Financial Group cut their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research report on Monday. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FAST. Nomura Holdings Inc. acquired a new stake in shares of Fastenal during the fourth quarter worth $747,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Fastenal by 98.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after buying an additional 58,726 shares during the period. Empowered Funds LLC lifted its stake in Fastenal by 205.4% during the first quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock valued at $2,097,000 after buying an additional 18,281 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Fastenal by 499.7% in the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after buying an additional 110,027 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Fastenal by 7.2% in the first quarter. Nordea Investment Management AB now owns 1,371,825 shares of the company’s stock worth $106,316,000 after acquiring an additional 91,754 shares in the last quarter. Institutional investors 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.