Insider Selling: Fastenal (NASDAQ:FAST) VP Sells 23,480 Shares of Stock

Fastenal (NASDAQ:FAST) VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fastenal Trading Down 0.4 %

FAST opened at $81.85 on Friday. The firm has a market capitalization of $46.89 billion, a P/E ratio of 40.72, a P/E/G ratio of 4.90 and a beta of 0.99. The firm’s 50 day moving average is $74.96 and its 200-day moving average is $69.22. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is currently 77.61%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America assumed coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stephens raised their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday. They issued a “neutral” rating and a $88.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.80.

Institutional Trading of Fastenal

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the third quarter worth approximately $25,000. Knuff & Co LLC acquired a new position in Fastenal in the third quarter worth $27,000. Central Valley Advisors LLC acquired a new position in Fastenal in the second quarter worth $28,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the period. Finally, LRI Investments LLC acquired a new position in Fastenal in the first quarter worth $39,000. Institutional investors and hedge funds 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.