Fastenal (NASDAQ:FAST) Director Michael Ancius Sells 3,000 Shares

Fastenal Company (NASDAQ:FAST) Director Michael Ancius sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Fastenal Price Performance

Shares of Fastenal stock opened at $47.78 on Thursday. The company has a 50-day simple moving average of $46.17 and a two-hundred day simple moving average of $45.52. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 3.01 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. Analysts forecast that Fastenal Company will post 1.25 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s payout ratio is currently 88.14%.

Hedge Funds Weigh In On Fastenal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC increased its holdings in shares of Fastenal by 7.6% during the second quarter. Fiduciary Financial Group LLC now owns 8,038 shares of the company’s stock worth $386,000 after buying an additional 568 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Fastenal by 5.1% during the 2nd quarter. Focus Financial Network Inc. now owns 67,730 shares of the company’s stock valued at $3,253,000 after acquiring an additional 3,275 shares in the last quarter. Dudley & Shanley Inc. grew its position in Fastenal by 160.7% during the 2nd quarter. Dudley & Shanley Inc. now owns 472,440 shares of the company’s stock worth $22,691,000 after acquiring an additional 291,190 shares during the last quarter. Sax Wealth Advisors LLC grew its position in Fastenal by 65.4% during the 2nd quarter. Sax Wealth Advisors LLC now owns 9,262 shares of the company’s stock worth $430,000 after acquiring an additional 3,663 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in Fastenal by 8.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 14,291 shares of the company’s stock worth $686,000 after purchasing an additional 1,155 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Morgan Stanley boosted their price target on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. DA Davidson restated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Fastenal has an average rating of “Hold” and a consensus price target of $48.83.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.