Fastenal (NASDAQ:FAST) EVP James C. Jansen Sells 11,428 Shares of Stock

Fastenal (NASDAQ:FASTGet Free Report) EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fastenal Price Performance

Shares of Fastenal stock opened at $64.86 on Friday. Fastenal has a 1-year low of $52.86 and a 1-year high of $79.04. The firm’s 50-day moving average price is $69.90 and its two-hundred day moving average price is $68.10. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 3.39 and a beta of 1.07.

Fastenal (NASDAQ:FASTGet Free Report) last released its quarterly 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 return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 2.11 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, April 25th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.41%. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Institutional Investors Weigh In On Fastenal

A number of hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. lifted its position in shares of Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the 4th quarter valued at $35,000. LRI Investments LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at $39,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Fastenal during the fourth quarter worth $43,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HSBC boosted their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Loop Capital decreased their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, Robert W. Baird decreased their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.33.

Read Our Latest Analysis on Fastenal

About Fastenal

(Get Free Report)

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.

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