Shares of Fastenal (NASDAQ:FAST) have received an average recommendation of “Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $53.25.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, January 19th. Credit Suisse Group upgraded Fastenal to a “buy” rating and set a $61.00 price objective on the stock in a research report on Thursday, January 18th. Stephens boosted their price objective on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Robert W. Baird restated a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, January 9th.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total value of $1,483,125.00. Following the transaction, the insider now owns 26,250 shares of the company’s stock, valued at $1,483,125. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the completion of the transaction, the insider now directly owns 22,588 shares in the company, valued at approximately $1,151,988. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,884 shares of company stock worth $2,133,912. 0.55% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Fastenal by 6.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock worth $921,000 after purchasing an additional 1,023 shares in the last quarter. Suntrust Banks Inc. lifted its stake in shares of Fastenal by 10.7% during the fourth quarter. Suntrust Banks Inc. now owns 10,807 shares of the company’s stock valued at $589,000 after acquiring an additional 1,048 shares during the period. Cullinan Associates Inc. lifted its stake in shares of Fastenal by 0.9% during the fourth quarter. Cullinan Associates Inc. now owns 116,001 shares of the company’s stock valued at $6,344,000 after acquiring an additional 1,050 shares during the period. Palisade Asset Management LLC lifted its stake in shares of Fastenal by 4.3% during the third quarter. Palisade Asset Management LLC now owns 26,897 shares of the company’s stock valued at $1,226,000 after acquiring an additional 1,100 shares during the period. Finally, YHB Investment Advisors Inc. lifted its stake in shares of Fastenal by 3.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 35,815 shares of the company’s stock valued at $1,959,000 after acquiring an additional 1,187 shares during the period. 85.08% of the stock is currently owned by institutional investors.
Fastenal (NASDAQ FAST) traded up $0.86 on Friday, hitting $56.06. The stock had a trading volume of 1,221,600 shares, compared to its average volume of 2,911,842. The company has a market capitalization of $16,110.00, a PE ratio of 26.44, a PEG ratio of 1.58 and a beta of 1.03. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20. Fastenal has a 1-year low of $39.79 and a 1-year high of $57.81.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. Fastenal’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. analysts anticipate that Fastenal will post 2.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a $0.37 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.64%. Fastenal’s payout ratio is currently 70.14%.
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Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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