Fastenal (NASDAQ:FAST) Reaches New 1-Year High at $36.73

Fastenal (NASDAQ:FAST)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $36.73 and last traded at $36.68, with a volume of 53197 shares. The stock had previously closed at $35.83.

A number of research firms have weighed in on FAST. Raymond James lowered shares of Fastenal from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 14th. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, October 5th. Argus raised their price objective on shares of Fastenal to $41.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised their price objective on shares of Fastenal from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Fastenal has a consensus rating of “Hold” and a consensus price target of $34.55.

The company has a quick ratio of 2.06, a current ratio of 4.51 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $32.44 and its two-hundred day moving average is $40.95. The company has a market capitalization of $20.66 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.34 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts predict that Fastenal will post 1.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, October 24th. Fastenal’s payout ratio is currently 66.67%.

In related news, CEO Daniel L. Florness sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the transaction, the chief executive officer now directly owns 239,690 shares of the company’s stock, valued at $8,628,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheryl Ann Lisowski sold 8,750 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.35, for a total transaction of $309,312.50. Following the transaction, the chief accounting officer now directly owns 9,350 shares in the company, valued at $330,522.50. The disclosure for this sale can be found here. Insiders have sold 54,365 shares of company stock worth $1,937,415 over the last three months. 0.62% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAST. Farmers & Merchants Investments Inc. increased its stake in shares of Fastenal by 94.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after purchasing an additional 375 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Fastenal in the second quarter worth about $26,000. Wealthcare Advisory Partners LLC increased its stake in shares of Fastenal by 101.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after purchasing an additional 424 shares in the last quarter. Clarus Wealth Advisors increased its stake in shares of Fastenal by 101.2% in the second quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 425 shares in the last quarter. Finally, FTB Advisors Inc. purchased a new position in shares of Fastenal in the second quarter worth about $29,000. 83.98% of the stock is currently owned by institutional investors.

Fastenal Company Profile (NASDAQ:FAST)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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.

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