Insider Buying: Leland J. Hein Purchases 4,300 Shares of Fastenal Stock (FAST)
Fastenal (NASDAQ:FAST) President Leland J. Hein acquired 4,300 shares of the stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $47.38 per share, with a total value of $203,734.00. Following the completion of the purchase, the president now directly owns 12,450 shares in the company, valued at approximately $589,881. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
FAST has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Fastenal in a research note to investors on Friday. They now have a $49.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Fastenal from $40.00 to $43.00 in a research note to investors on Thursday, January 16th. They now have an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $51.17.
Shares of Fastenal (NASDAQ:FAST) traded down 0.32% during mid-day trading on Tuesday, hitting $47.46. The stock had a trading volume of 2,545,648 shares. Fastenal has a 1-year low of $43.75 and a 1-year high of $53.38. The stock’s 50-day moving average is $46.92 and its 200-day moving average is $47.64. The company has a market cap of $14.083 billion and a price-to-earnings ratio of 31.53.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.02. The company had revenue of $813.76 million for the quarter, compared to the consensus estimate of $816.23 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Fastenal will post $1.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of 0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, January 29th.
Fastenal Company is engaged in selling industrial and construction supplies in a wholesale and retail fashion.
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