Fastenal Company (NASDAQ:FAST) insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $47.14, for a total transaction of $471,400.00. Following the transaction, the insider now directly owns 21,290 shares of the company’s stock, valued at approximately $1,003,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Fastenal Company (FAST) opened at 48.45 on Thursday. The stock has a market cap of $13.92 billion, a PE ratio of 25.84 and a beta of 1.00. Fastenal Company has a one year low of $37.88 and a one year high of $52.74. The company has a 50-day moving average of $44.65 and a 200 day moving average of $44.20.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.44 EPS. Fastenal’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that Fastenal Company will post $1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th will be given a $0.32 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.64%. Fastenal’s dividend payout ratio (DPR) is 68.09%.
Fastenal announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 11th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
FAST has been the subject of a number of analyst reports. Northcoast Research initiated coverage on shares of Fastenal in a research note on Tuesday, July 25th. They set a “buy” rating and a $54.00 target price for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $52.00 target price on shares of Fastenal in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, August 3rd. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, KeyCorp reiterated a “buy” rating and set a $52.00 price target on shares of Fastenal in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Fastenal has an average rating of “Buy” and a consensus target price of $50.80.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Enterprise Financial Services Corp boosted its position in shares of Fastenal by 0.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 6,074 shares of the company’s stock worth $264,000 after purchasing an additional 28 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Fastenal by 1.1% during the 2nd quarter. Curbstone Financial Management Corp now owns 5,653 shares of the company’s stock worth $246,000 after purchasing an additional 60 shares in the last quarter. QS Investors LLC boosted its position in shares of Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after purchasing an additional 63 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares in the last quarter. Finally, Ironwood Investment Management LLC boosted its position in shares of Fastenal by 1.2% during the 1st quarter. Ironwood Investment Management LLC now owns 6,359 shares of the company’s stock worth $327,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.
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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