Fastenal Company Director Sells $1,459,500 in Stock (FAST)
Fastenal Company (NASDAQ:FAST) Director Robert A. Kierlin unloaded 30,000 shares of Fastenal Company stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $48.65, for a total value of $1,459,500.00. Following the completion of the sale, the director now directly owns 11,895,625 shares in the company, valued at approximately $578,722,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Fastenal Company (NASDAQ:FAST) traded down 0.89% during mid-day trading on Thursday, hitting $48.12. The stock had a trading volume of 1,012,594 shares. Fastenal Company has a 52-week low of $42.48 and a 52-week high of $53.12. The stock has a 50-day moving average of $49.75 and a 200-day moving average of $47.71. The company has a market cap of $14.274 billion and a price-to-earnings ratio of 31.94.
Fastenal Company (NASDAQ:FAST) last announced its earnings results on Friday, April 11th. The company reported $0.38 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.38. The company had revenue of $876.50 million for the quarter, compared to the consensus estimate of $869.99 million. During the same quarter last year, the company posted $0.37 earnings per share. Fastenal Company’s revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Fastenal Company will post $1.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 23rd. Shareholders of record on Friday, April 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, April 23rd.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Fastenal Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $51.00 price target on the stock. Finally, analysts at Edison Group reiterated a “positive” rating on shares of Fastenal Company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.00.
Fastenal Company is engaged in selling industrial and construction supplies in a wholesale and retail fashion.
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