Fastenal (NASDAQ:FAST) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fastenal (NASDAQ:FAST) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $67.33.

FAST has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, HSBC raised their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th.

Fastenal Price Performance

FAST stock opened at $63.38 on Tuesday. The firm has a 50 day simple moving average of $68.12 and a two-hundred day simple moving average of $68.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock has a market cap of $36.29 billion, a PE ratio of 31.38, a P/E/G ratio of 3.39 and a beta of 1.02. Fastenal has a one year low of $53.83 and a one year high of $79.04.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Fastenal will post 2.09 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Insider Transactions at Fastenal

In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FAST. Van ECK Associates Corp raised its position in shares of Fastenal by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after purchasing an additional 5,509 shares during the last quarter. Raymond James & Associates raised its holdings in Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Fastenal in the fourth quarter worth approximately $1,282,000. ICW Investment Advisors LLC grew its holdings in shares of Fastenal by 2.0% during the fourth quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after buying an additional 694 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $13,204,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.