Fastenal (NASDAQ:FAST) shares fell 51.2% during mid-day trading on Thursday . The company traded as low as $31.02 and last traded at $31.34. 4,455,125 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 4,762,166 shares. The stock had previously closed at $64.28.
A number of analysts have weighed in on FAST shares. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, January 23rd. Buckingham Research boosted their target price on shares of Fastenal from $28.50 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Morgan Stanley boosted their target price on shares of Fastenal from $27.50 to $31.50 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Raymond James set a $39.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $30.85.
The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.97 and a current ratio of 4.31.
Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. During the same quarter in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that Fastenal will post 2.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th were paid a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 5.49%. Fastenal’s dividend payout ratio is 65.40%.
In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total value of $588,640.52. Following the sale, the chief accounting officer now owns 9,466 shares of the company’s stock, valued at $607,906.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Terry Modock Owen sold 1,875 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $70.62, for a total transaction of $132,412.50. Following the completion of the sale, the insider now directly owns 5,375 shares in the company, valued at approximately $379,582.50. The disclosure for this sale can be found here. In the last three months, insiders sold 185,970 shares of company stock worth $12,905,432. 0.56% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Berman Capital Advisors LLC acquired a new position in Fastenal in the fourth quarter valued at $26,000. Investors Research Corp acquired a new position in Fastenal in the first quarter valued at $26,000. AdvisorNet Financial Inc lifted its holdings in Fastenal by 46.9% in the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock valued at $29,000 after buying an additional 180 shares during the period. Avestar Capital LLC lifted its holdings in Fastenal by 3,163.2% in the fourth quarter. Avestar Capital LLC now owns 620 shares of the company’s stock valued at $30,000 after buying an additional 601 shares during the period. Finally, Strategy Asset Managers LLC acquired a new position in Fastenal in the first quarter valued at $32,000. 84.94% of the stock is currently owned by institutional investors.
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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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