Fastenal (FAST) Sets New 1-Year High at $63.82

Shares of Fastenal (NASDAQ:FAST) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.82 and last traded at $63.62, with a volume of 36779 shares. The stock had previously closed at $62.63.

FAST has been the topic of several recent analyst reports. Longbow Research upgraded Fastenal from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, December 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “sell” rating in a report on Thursday, January 3rd. Wolfe Research upgraded Fastenal from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 8th. ValuEngine downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Finally, Buckingham Research set a $51.00 price objective on Fastenal and gave the stock a “hold” rating in a report on Friday, January 11th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Fastenal presently has an average rating of “Hold” and a consensus target price of $57.70.

The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.30 and a quick ratio of 2.37.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, January 17th. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities research analysts expect that Fastenal will post 2.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 27th. Stockholders of record on Thursday, January 31st were issued a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.69%. Fastenal’s dividend payout ratio is currently 65.40%.

In related news, insider Leland J. Hein sold 39,583 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $62.86, for a total value of $2,488,187.38. Following the transaction, the insider now owns 22,611 shares in the company, valued at $1,421,327.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael John Dolan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at approximately $750,000. The disclosure for this sale can be found here. Insiders sold a total of 87,083 shares of company stock worth $5,458,662 in the last quarter. 0.56% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC increased its holdings in Fastenal by 1.0% in the fourth quarter. Palisade Asset Management LLC now owns 30,038 shares of the company’s stock worth $1,571,000 after buying an additional 300 shares during the last quarter. DNB Asset Management AS increased its holdings in Fastenal by 14.9% in the fourth quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock worth $2,823,000 after buying an additional 7,012 shares during the last quarter. Trust Co. of Virginia VA increased its holdings in Fastenal by 4.8% in the fourth quarter. Trust Co. of Virginia VA now owns 106,810 shares of the company’s stock worth $5,585,000 after buying an additional 4,884 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in Fastenal by 1.6% in the third quarter. DF Dent & Co. Inc. now owns 2,406,742 shares of the company’s stock worth $139,639,000 after buying an additional 38,847 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Fastenal by 17.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,294 shares of the company’s stock worth $1,375,000 after buying an additional 3,814 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

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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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