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Fastenal (NASDAQ:FAST - Get Rating) has been given an average recommendation of "Hold" by the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $52.00.
A number of brokerages have recently issued reports on FAST. StockNews.com lowered shares of Fastenal from a "buy" rating to a "hold" rating in a research report on Saturday, September 3rd. UBS Group lowered their target price on shares of Fastenal from $62.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. Robert W. Baird lowered shares of Fastenal from an "outperform" rating to a "neutral" rating and set a $48.00 price objective on the stock. in a research report on Thursday, July 14th. Morgan Stanley lowered their price objective on shares of Fastenal from $48.00 to $42.00 and set an "underweight" rating on the stock in a research report on Thursday, July 14th. Finally, Argus lowered their price objective on shares of Fastenal from $66.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, July 15th.Fastenal Stock Up 1.6 %
Shares of NASDAQ:FAST opened at $51.10 on Thursday. The firm's 50 day moving average price is $51.21 and its 200 day moving average price is $53.20. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.99 and a beta of 1.21. Fastenal has a fifty-two week low of $45.68 and a fifty-two week high of $64.75. The company has a quick ratio of 1.75, a current ratio of 3.71 and a debt-to-equity ratio of 0.10.
Fastenal (NASDAQ:FAST - Get Rating) last announced its quarterly earnings results on Wednesday, July 13th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. Fastenal had a net margin of 15.70% and a return on equity of 33.47%. The firm's revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts predict that Fastenal will post 1.87 earnings per share for the current fiscal year.
Fastenal announced that its board has approved a share repurchase plan on Tuesday, July 12th that allows the company to repurchase 8,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued. Fastenal Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, July 27th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, July 26th. Fastenal's dividend payout ratio (DPR) is currently 69.27%. Insider Buying and Selling at Fastenal
In other news, VP Charles S. Miller sold 23,136 shares of Fastenal stock in a transaction on Monday, August 15th. The stock was sold at an average price of $55.90, for a total transaction of $1,293,302.40. Following the completion of the transaction, the vice president now owns 7,500 shares of the company's stock, valued at approximately $419,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Charles S. Miller sold 23,136 shares of Fastenal stock in a transaction on Monday, August 15th. The stock was sold at an average price of $55.90, for a total transaction of $1,293,302.40. Following the completion of the transaction, the vice president now owns 7,500 shares of the company's stock, valued at approximately $419,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Ancius purchased 678 shares of the business's stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average cost of $49.18 per share, with a total value of $33,344.04. Following the purchase, the director now directly owns 28,265 shares in the company, valued at $1,390,072.70. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,736 shares of company stock valued at $131,599. 0.40% of the stock is owned by company insiders. Institutional Trading of Fastenal
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. increased its position in Fastenal by 1.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 204,568 shares of the company's stock worth $10,215,000 after purchasing an additional 2,240 shares in the last quarter. Amundi grew its holdings in Fastenal by 3.6% in the 2nd quarter. Amundi now owns 1,923,011 shares of the company's stock valued at $91,036,000 after buying an additional 66,692 shares during the period. Verition Fund Management LLC grew its holdings in Fastenal by 75.9% in the 2nd quarter. Verition Fund Management LLC now owns 7,336 shares of the company's stock valued at $366,000 after buying an additional 3,166 shares during the period. Stock Yards Bank & Trust Co. grew its holdings in Fastenal by 61.4% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 16,039 shares of the company's stock valued at $801,000 after buying an additional 6,099 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Fastenal by 43.6% in the 2nd quarter. Captrust Financial Advisors now owns 39,404 shares of the company's stock valued at $1,967,000 after buying an additional 11,963 shares during the period. Hedge funds and other institutional investors own 78.18% of the company's stock. Fastenal Company Profile (Get Rating)
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.Further ReadingGet a free copy of the StockNews.com research report on Fastenal (FAST)3 High Margin Chipmakers Bound to Recover3 Solar Stocks That Will Benefit From the Biden Tariff Holiday REV Group Has A Deep Moat In The World Of EVs Is G-III Apparel Group, Ltd. A Value Trap? Bank Of America Sees Upside In These 2 European Alcohol Stocks
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