Fastenal (FAST) Reaches New 52-Week High at $55.04

Fastenal (NASDAQ:FAST)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $55.04 and last traded at $52.18, with a volume of 3225400 shares trading hands. The stock had previously closed at $52.39.

FAST has been the topic of a number of recent research reports. KeyCorp restated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research report on Thursday, October 12th. Stephens set a $54.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Fastenal currently has an average rating of “Buy” and an average target price of $50.80.

The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36. The company has a market cap of $15,830.00, a PE ratio of 27.75, a PEG ratio of 1.93 and a beta of 1.08.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. equities analysts expect that Fastenal will post 1.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were given a $0.32 dividend. The ex-dividend date was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.45%. Fastenal’s payout ratio is 68.09%.

In related news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the completion of the transaction, the insider now owns 20,258 shares of the company’s stock, valued at approximately $987,374.92. The disclosure for this sale can be found here. Insiders sold a total of 80,112 shares of company stock valued at $3,879,832 in the last three months. Insiders own 0.55% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Bank of Australia raised its stake in shares of Fastenal by 44.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Fastenal during the 3rd quarter valued at about $114,000. Cable Hill Partners LLC purchased a new position in shares of Fastenal during the 3rd quarter valued at about $126,000. Krilogy Financial LLC raised its stake in shares of Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares during the last quarter. Finally, QS Investors LLC raised its stake in shares of Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

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About Fastenal

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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