Fastenal Company (FAST) Insider James C. Jansen Sells 10,000 Shares
Fastenal Company (NASDAQ:FAST) insider James C. Jansen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the transaction, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Fastenal Company (NASDAQ:FAST) traded up $0.30 during midday trading on Wednesday, hitting $48.75. The company had a trading volume of 2,039,604 shares, compared to its average volume of 2,805,792. The company has a market cap of $13,826.35, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Fastenal Company has a 1-year low of $39.79 and a 1-year high of $52.74. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. analysts predict that Fastenal Company will post 1.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $1.28 annualized dividend and a dividend yield of 2.63%. Fastenal’s payout ratio is 68.09%.
A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $51.00 target price (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Stephens set a $54.00 target price on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and issued a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. Finally, Northcoast Research reiterated a “buy” rating on shares of Fastenal in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $50.80.
Institutional investors have recently made changes to their positions in the business. Nuance Investments LLC bought a new stake in Fastenal during the second quarter worth approximately $3,048,000. Sawtooth Solutions LLC boosted its position in Fastenal by 15.4% during the second quarter. Sawtooth Solutions LLC now owns 24,473 shares of the company’s stock worth $1,065,000 after purchasing an additional 3,275 shares during the period. Seven Eight Capital LP boosted its position in Fastenal by 67.2% during the second quarter. Seven Eight Capital LP now owns 9,700 shares of the company’s stock worth $422,000 after purchasing an additional 3,900 shares during the period. Girard Partners LTD. boosted its position in Fastenal by 14.5% during the second quarter. Girard Partners LTD. now owns 11,674 shares of the company’s stock worth $508,000 after purchasing an additional 1,477 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Fastenal by 58.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 23,487 shares of the company’s stock worth $1,022,000 after purchasing an additional 8,655 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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